BYD Launches Qin Plus EV Honor Edition: Electric Cars Now Cheaper Than Gasoline

On February 19, 2024, China’s BYD launched the new Qin Plus EV Honor Edition model. At the same time, BYD emphasized that through the launch of this new model, electric vehicles are officially opening a new era with lower prices than gasoline vehicles.

BYD is well known for its low-cost electric cars, such as the Atto 3, Dolphin, and Seal, but it has recently expanded into new markets.

A representative example is BYD’s premium brand YangWang’s U8, launched in September 2023, which is a high-priced model with a retail price of 1 million yuan (about $140,000) in the Chinese market. In January this year, Yangwang unveiled the brand’s first ultra-premium EV sedan, U7. The U7 is said to be equipped with a quad-motor electric drivetrain generating nearly 1,300hp, and the maximum driving range is 500 miles (800km: CLTC standard).

In addition, BYD’s YangWang plans to launch its first electric supercar, Yangwang U9, on February 25. It can accelerate 0-60 mph in under 2.0 seconds.

On the other hand, the face-lift model of Qin Plus Honor Edition’s DM-i (PHEV) version was launched at a low price of 79,800 yuan (about $11,000). The driving range is 74 miles (120km: NEDC standard) in the electric mode. The Qin Plus EV version has five retail models ranging from 109,800 yuan to 139,800 yuan.

The EV version has an electric motor that generates a maximum output of 134 hp (100 kW) and a maximum torque of 180 Nm. EV version was launched in two models depending on battery capacity. Two are equipped with 48 kWh or 57.6 kWh battery packs for a maximum driving range of 261 miles (420 km) and 316 miles (510 km: CLTC standard).