From CNBC:

BYD’s new luxury brand, Yangwang, released its first model, the U8, priced at over 1 million yuan. Despite this, BYD has surpassed Tesla’s production of new energy vehicles in 2023, with the Qin Plus as its bestseller in China, selling nearly 400 more cars than Tesla’s Model Y.

The Qin Plus hybrid and battery-only versions are priced from 99,800 yuan to 176,800 yuan, with a driving range of 420 km to 610 km. Despite this, Tesla’s Model Y is currently priced from 266,400 yuan to 363,900 yuan in China, with a driving range of 532 km to 688 km.

Other best-selling BYD new energy vehicles in China include the Seagull, Song Plus, Yuan Plus, and Dolphin, ranging in price from 73,800 yuan to 209,800 yuan, with driving ranges from 305 km to 605 km. BYD’s new luxury brand Yangwang has ventured into the high-end market, selling its U8 for more than 1 million yuan.

Chinese electric car startups Nio and Xpeng plan to launch mass-market brands this year, while Tesla has not yet made such announcements.



Read more: BYD’s best-selling China EVs, including one edging out Tesla’s Model Y