Amid sluggish domestic demand for Chinese automobiles, BYD, a leading electric vehicle maker, has launched a small electric vehicle worth 18 million won, the Wangi Shimbun reported on the 1st.Biyadi announced the previous day that it has released three new pure electric vehicle models, the Yuan Pro.The new model costs 95,800 to 113,800 yuan (about $15,000 to $20,000).These models, which are small sports utility vehicles (SUVs), have a maximum output of 100kW and a maximum mileage of 320 to 401km.The sales price of these models is 4,000 to 6,000 yuan (about 1,000 dollars) cheaper than the estimated price, and this is the first time that Biyadi has released a pure electric vehicle worth 100,000 yuan, according to local media.U.S. electric vehicle maker Tesla is also planning to introduce a low-cost electric vehicle model worth $25,000, which is expected to intensify competition to secure a low-cost electric vehicle market in China.Earlier this month, Chinese Prime Minister Li Chang encouraged automakers to develop and sell rural new energy vehicle models, saying that new energy vehicles (electric, hybrid, and hydrogen cars) should be expanded to rural areas.
China’s auto market, which has been suffering from sluggish domestic demand this year, showed low sales in May.According to the China Automobile Market Information Joint Conference (CPCA), sales of passenger cars from May 1 to 28 were 1.392 million units, down 6% from the previous month.Sales of new energy vehicles also remained at 483,000 units, the same as in the previous month.
