In an effort to maintain its lead in the EV sales industry, BYD is introducing new electric cars across a range of market groups. The most recent EV plans from BYD were leaked, revealing a new electric SUV that will be on sale in April to take on Tesla’s best-selling Model Y.
2024 EV plans from BYD are leaked
BYD hopes to hold onto its position as the world’s best-selling electric vehicle manufacturer after surpassing Tesla in the final three months of 2023 by releasing a number of new electric vehicles.
China revealed BYD’s electric vehicle (EV) plans for the Ocean series, which include a new electric SUV targeted at Tesla’s Model Y along with new Seal and Dolphin models that will go on sale this year. The assault will begin with the new Dolphin electric hatch, “Champion Edition.”
One of BYD’s best-selling models both in China and abroad is the reasonably priced Dolphin model. With design improvements and a larger battery, the new Champion model can achieve a CLTC range of up to 520 km (323 mi) from 420 km (260 mi).
Dolphin sales increased by 7% from January of the previous year to 18,905 in just the prior month. The Dolphin was recently introduced by BYD in international countries, including Europe, Brazil, Japan, and Mexico.
gaining traction with new electric vehicles
Next up for BYD is the new Sea Lion 07 electric SUV. The Sea Lion 07 is an electric SUV that is designed to rival Tesla’s Model Y in the mid-size SUV market.
At the 2023 Guangzhou International Auto Show, BYD unveiled the Sea Lion 07 in November, referring to it as “its first mid-size urban smart electric SUV.”
Former Audi and Lamborghini designer Wolfgang Egger oversaw the design of the electric SUV. The sleek new electric SUV incorporates design cues from both legendary brands.
The Sea Lion 07 measures 4,830 mm in length, 1,925 mm in width, and 1,620 mm in height. In comparison, the Tesla Model Y measures 4,760 mm in length, 1,921 mm in width, and 1,624 mm in height.
Three powertrain options will be available for BYD’s upcoming electric SUV. There will be two: one 170 kW or 230 kW single motor. A 160 kW front and a 230 kW rear motor are part of the dual motor variant. It is anticipated to launch between 200,000 and 260,000 yuan ($28,000 and $35,900), undercutting the 266,000–363,900 yuan starting price of Tesla’s Model Y.
BYD intends to introduce an improved Seal EV in June. Tesla’s Model 3 is a rival to BYD’s Seal electric car, which is starting to establish its own identity. September will see the release of a new BYD Seal S, but not much is currently known about the EV.
By releasing the Yangwang U7, BYD is also venturing into the ultra-luxury market. The high-end electric vehicle has a 500-mile (800-kilometer) CLTC range and about 1,300 horsepower.
Prices for the electric automobile are likely to begin at approximately $140,000 (1,000,000 yuan), though BYD has not yet disclosed them.
New electric vehicles are being added to BYD’s lineup seemingly every month. BYD is expected to sustain the momentum in 2024 with new electric vehicles in important areas like luxury, entry-level, and mid-size SUVs.
Selling 1.6 million EVs last year was a record for the leading Chinese EV manufacturer, up 73% from 911,000 in 2022.
With new models set to debut in important international markets in 2024, BYD will be well-positioned to drive growth. For instance, BYD, which debuted in Japan only a year ago, made up 20% of all EV imports into the country in January as it attempts to compete with Nissan and Toyota there.
Which BYD electric vehicle are you most excited about for the upcoming year?