Shortly after the launch of the U8, BYD’s first luxurious new power automobile, a brand new mannequin named “Seagull” has been registered with China’s Ministry of Industry and Information Technology.
The Seagull adopts a five-door, five-seat construction, related in form to its Dolphin mannequin. However, the Seagull’s size has been shortened from 4 meters to 3.78 meters, and its width and top have additionally been lowered, making it smaller than the Dolphin.
In phrases of energy, the Seagull might be outfitted with a entrance drive motor with most energy of 55 kW. If it’s outfitted with 44.9 kWh ferrous lithium phosphate battery like Dolphin, its pure electrical cruising vary will attain 401 km or 420 km.
The official retail worth of the BYD Dolphin is from 116,800 yuan to 136,800 yuan ($17,437 -$20,423), whereas the retail worth of the Seagull, which is positioned on the decrease finish, might be under 100,000 yuan, making it the least costly BYD mannequin at current.
Choosing to introduce a lower-priced mannequin within the small electrical automobile market, BYD seems to imagine that there’s nonetheless room for improvement on this sector. According to the China Passenger Car Association’s information, from January to November, 2022, small vehicles accounted for 30% of the NEV market, and their retail share within the pure electrical automobile market reached 33.8%.
The gross sales quantity of the BYD Dolphin was 26,000 models in December final 12 months, solely trailing the BYD Song PLUS DM-i. In 2022, cumulative gross sales of the Dolphin reached 204,200 automobiles, up 633.4% year-on-year.
BYD’s self-developed blade battery has a value benefit within the small EV market. According to information from Shanghai Ganglian, the present worth of battery-grade ferrous lithium phosphate is regularly falling to under 500,000 yuan/ton.
SEE ALSO: BYD Unveils Two Models Under High-End Yangwang Brand
Cui Dongshu, Secretary-General of the China Passenger Car Association, mentioned just lately that the ample provide introduced by a considerable amount of battery funding and upstream mineral funding is conducive to reducing useful resource costs. At current, the value of lithium carbonate has dropped under 400,000 yuan per ton, and the battery price will inevitably drop considerably over the following few months.
BYD Seagull faces many opponents. Following the launch of the Wuling Hongguang Mini EV by SAIC-GM-Wuling in 2020, many micro and small pure electrical automobiles have come out one after one other. In 2022, retail gross sales of micro and small electrical automobiles reached 1,511,200 models, with Wuling Hongguang Mini accounting for twenty-four.5%, and the remaining 70% of the market share was divided between Changan Lumin, Chery QQ Ice Cream, Chery Little Ant, Geometry E, Leapmotor T03, NETA V and others.
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