On August 1st, BYD Han EV introduced the standard endurance version of the entry-level luxury car, with a battery life of 506 kilometers and a subsidized price of 209,800 yuan. At present, the reservation has been started, and it is expected to be delivered in September 2021, setting a NEDC benchmark for the value of 200,000+mid-to-high-end pure electric cars. The capital market responded immediately, and the A-share new energy vehicle sector index reached a record high. Among them, BYD, as the leader of new energy vehicles, has a market value of over 800 billion, which is far ahead among China automobile enterprises.
BYD Han has been attracting much attention since it went public in 2020. It can be said that it is online celebrity in the car circle. Why did it suddenly introduce a new version? This is a proactive market strategy against Tesla’s repeated price cuts in China. On July 31, Tesla announced that the upgraded version of Model 3 standard battery life will be reduced by 15,000, which is the fourth price reduction since the localization of Model 3 in 2019. Compared with Tesla, BYD Han’s price reduction strategy is more accurate. Only the cruising range of the new model is different from that of the original model. All other configurations are exactly the same, and the product strength is fully dominant in the alignment with Model 3. Even the cruising range, the 506km of the standard cruising version of Han EV is enough to crush the 468km of Model3.
Being able to decisively reduce the price of Tesla in such a short time and throw out the 506km version of the deep-water bomb represents that BYD has been able to accurately predict the changes in the industry and competitors, take the initiative and lay out in advance in the macro competition of new energy. When people were still speculating about how much impact domestic new energy car companies would suffer, BYD took the lead in responding, sounded the horn of China car brand attack, and took the initiative to enter the hinterland of Tesla without fear of price reduction competition.
The great recognition of BYD in the capital market shows that BYD has formed technical barriers for years of technology accumulation, and has achieved a leading position in strength and brand. For example, the e-platform 3.0 that BYD plans to release recently, although delayed by the epidemic, combined with the information released at the beginning of DM-i and the Shanghai Auto Show, BYD can launch two major innovations in core technologies within one year, and the accumulation of technical strength can be seen.
Han, the flagship model of BYD dynasty, is a new energy luxury car based on BYD’s high starting point technology. Since the first anniversary of listing, the sales volume has exceeded 100,000, and it has exceeded 10,000 for several months in a row. It has been highly recognized by the market and has always been the sales champion in the new energy medium and large car market in China. As a powerful online celebrity, BYD Han’s "safety" label is deeply rooted in people’s hearts, equipped with ultra-safe blade batteries, and BYD Han has performed well in the China Insurance Automobile Safety Index (C-IASI), which is known as "the most stringent safety evaluation in China" — — The three core indexes, namely, occupant safety index, outsider safety index and vehicle auxiliary safety index, all received excellent (G) evaluation. Subsequently, Han EV also obtained C-NCAP five-star safety certification, and CCRT (Intelligent Electric Vehicle) ranked first in the overall evaluation, which can be described as "all-eugenics" in the automobile industry.
From technology to products, from products to brands, BYD has achieved epoch-making transcendence. It is believed that with the further prosperity of the market, the further development of enterprises and the further breakthrough of products and technologies, in 2021, new energy vehicles in China will usher in a high-speed development era, and China automobile brands will also play the strongest voice of the times. (Tang Lihua)
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