The new variant of the BYD Yuan Up is priced at RMB 3,000 more than the entry-level version, but the range has increased by 100 km to 401 km.

BYD (HKG: 1211, OTCMKTS: BYDDY) has rolled out a new variant of its compact electric SUV Yuan Up, priced slightly higher than the entry-level model but with a longer range.

The new energy vehicle (NEV) maker launched the new Yuan Up variant today, with a starting price of RMB 99,800 ($13,750) and a combined range of 401 kilometers.

The Yuan Up is the first A0-class electric SUV in BYD's all-electric e-Platform 3.0, with length, width and height of 4,310 mm, 1,830 mm and 1,675 mm respectively, and a wheelbase of 2,620 mm.

The model was launched on March 26, when it was offered in three variants with starting prices of RMB 96,800, RMB 109,800 and RMB 119,800 respectively.

The three variants were powered by battery packs with capacities of 32 kWh, 45.12 kWh, 45.12 kWh and ranges of 301 km, 401 km and 401 km respectively.

The new Yuan Up variant added today is powered by the same electric motor as the entry-level model with a peak power of 70 kW and peak torque of 180 Nm. It can accelerate from 0 to 100 km/h in 12.9 seconds, compared to 12 seconds for the entry-level model.

The new variant uses the same 45.12-kWh battery pack as the other higher-trim variants and has a 100-kilometer higher range than the entry-level model, but the price increased by just RMB 3,000.

The other two pricier variants are powered by more powerful electric motors with 130 kW of peak power and 290 Nm of peak torque each, both capable of accelerating from 0 to 100 km/h in 7.9 seconds.

Along with the launch of the new variant, BYD announced that customers who buy any of the variants of the Yuan Up before July 31 will get free vehicle insurance.

The Yuan family, which also includes the Yuan Plus and Yuan Pro, has been one of the best-selling BYD models over the past two years, selling more than 30,000 units in most months of 2023, according to data compiled by CnEVPost.

For all of 2023, the Yuan family, sold 428,580 units, contributing 14 percent of BYD's 3,024,417 NEV sales for the year.

BYD sold 341,658 NEVs in June, up 35.02 percent year-on-year and up 2.97 percent from May, according to data it released on July 1.

The Yuan family, which sold 36,222 units in June, was the third best-selling BYD model after the Song and Qin, contributing 10.60 percent of monthly sales.

($1 = RMB 7.2594)

JP Morgan expects BYD to reach 6 million global deliveries by 2026