BYD Co, LtdBYDDFBYDDY bumped up pricing for its popular Dolphin model and scrapped an entry-level version of the vehicle, despite automobile demand in the nation reflected signs of cooling down.
Warren Buffett-backed BYD said 2023 pricing for its Dolphin subcompact hatchback would start from 116,800 yuan ($16,745) and extend to 136,800 yuan, Bloomberg reports.
Previously, the all-electric Dolphin started from about 96,800 yuan, making the newer version higher by 20%.
BYD added some additional colors and the new model offers a comfort mode on top of the original three driving modes of energy saving, snow, and sports.
BYD slightly extended its range to 420 kilometers (261 miles) on a single charge versus 400 kilometers.
Last week, the founder and CEO of rival EV maker Nio IncNIO warned against a challenging first half due to China’s cut in government EV subsidies and the broader economic slowdown.
Like other automakers, BYD felt the pinch of China’s pandemic resurgence. A top BYD executive shared plans of curtailing production to 2,000 cars a day with around 20% – 30% of BYD’s staff unable to work due to home quarantine.
Contrastingly Tesla, Inc’sTSLA internal schedule reflected plans to run a reduced production schedule at its Shanghai Giga plant in January, extending the reduced output it began this December into next year.
Price Action: BYDDF shares closed at $24.35 on Wednesday.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok
