Shanghai (ZXZC)- On Feb. 19, SAIC-GM-Wuling ("SGMW") announced via its official Weibo account that the price of the 150km Advanced Edition of the Wuling Xing Guang PHEV (plug-in hybrid electric vehicle) model has been adjusted from 105,800 yuan to 99,800 yuan ("Xing Guang" means "starlight" in Chinese).

Photo credit: SGMW

This move comes shortly after the launch of the Honor Editions of the BYD Qin PLUS and Destroyer 05 , both priced starting from 79,800 yuan. The entry-level price of the Qin PLUS has been directly reduced by 20,000 yuan compared to the original starting price of the Champion Edition.

The new BYD Qin PLUS continues BYD's strategy of lowering prices while enriching configurations. The new car adds a new "Baiyouqing" (translating to "white celadon") color option and has been upgraded to have such new features as intelligent voice continuous calling and intelligent power-on/-off function.

The Wuling Xing Guang is also a force to be reckoned with. Positioned as a mid-sized sedan, the Xing Guang measures 4,835/1,860/1,515mm with a wheelbase of 2,800mm, larger than the compact sedan Qin PLUS. It features a 15.6-inch central control screen and an 8.8-inch LED instrument panel.

With the entry of major players like Changan NEVO, SAIC Roewe, Geely Galaxy, and Chery, the PHEV market is becoming increasingly competitive. The price cuts by BYD and SGMW are likely to trigger a wave of price reductions across the market, further stimulating consumer demand and accelerating the penetration of PHEVs in the automotive market.