BYDDY - BYD trims prices on best-selling sedan

2023-05-10 07:02:11 ET

BYD Company ( OTCPK:BYDDY ) is beginning to drop the price of its Seal model by double-digit percentages with more options for customers.

The company has rolled out five new models with varying features in terms of range and luxury. The Champion model will now start at an equivalent of around $27,000, notably below the prior, standard pricing. The new base pricing also undercuts Tesla’s Model 3 pricing even after its sticker prices were likewise pulled back as of late.

According to a breakdown of the pricing by Shanghaiist , prices for the Champion model will now range from a base model at about $27,000 to a high-end version coming in at $40,000.

Shares of BYD Company ( OTCPK:BYDDY ) listed in Hong Kong rose about 2.5% during Wednesday’s trading.

Read more on domestic competitor Li Auto’s latest earnings update .

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