BYD lowers starting price for Seagull electric hatchback

SHANGHAI: Chinese electric car maker BYD has set the starting price for its Seagull hatchback at 73,800 yuan (RM47,528)), about 6.3% lower than its initial advertised price, its website showed.

The vehicle attracted significant attention at the Shanghai auto show at a price starting from 78,800 yuan (RM50,722) - half the price of the cheapest new energy vehicles available elsewhere.

BYD's website showed that buyers will be able to pick from two versions with a range of 305km, offering different options on tyres and features such as wireless phone charging, at prices of 73,800 and 78,800 yuan. It had advertised the two versions at 78,800 yuan and 83,800 yuan (RM53,941) during the auto show.

The company's longer-range version will be priced at 89,800 yuan (RM57,803), down from the 95,800 yuan (RM61,665) advertised at the show.

The previously advertised amounts were "presale" prices, the company said in response to a Reuters query.

More than 40 auto brands including BYD have followed Tesla in cutting prices on electric vehicles and internal combustion engine vehicles since January in the face of softening demand in the world's largest auto market.