- BYD Co, Ltd BYDDF BYDDY 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%.
- Also Read: Tesla Boosts Discounts To Tap More US Buyers
- 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 Inc NIO 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.
- Meanwhile December, BYD reported a substantial increase in deliveries for November despite China reeling under the impact of the pandemic.
- BYD looked to launch a new "professional and personal" electric car brand in 2023.
- The new brand will be an addition to Yangwang, a premium brand set for launch in the first quarter of 2023.
- Contrastingly Tesla, Inc's TSLA 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.
- Photo Via Wikimedia Commons
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