BYD (HKG: 1211, OTCMKTS: BYDDY) has recently unveiled a new variant of the Yuan Up, a compact electric SUV, aimed at widening its customer base with a more affordable option. The latest model comes with a starting price of RMB 74,800 ($10,400), representing a significant 25 percent reduction from the previous entry-level version.
One notable change in the new variant is the reduction in the range from 401 km to 301 km, achieved with a smaller 32-kWh battery pack compared to the 45.12-kWh pack in the other three variants of the Yuan Up. Additionally, the new variant does not include a smart driving system, a departure from BYD’s previous strategy of prioritizing advanced driver-assist technologies.
Earlier this year, BYD had emphasized the importance of intelligent driving features by introducing 21 models equipped with driver assist systems. The God’s Eye C smart driving system, based on the DiPilot 100 solution, was a key selling point for the brand. However, the absence of such features in the new Yuan Up variant indicates a potential shift in BYD’s smart driving approach, possibly due to a reassessment of their impact on vehicle sales.
Despite the strategic change, the Yuan family of models, including the Yuan Plus Smart Driving Edition and Yuan Plus Honor Edition, has experienced a decline in sales over the past two months. In May and June, sales figures dropped by 21.18 percent and 28.97 percent year-on-year, respectively. Nonetheless, the family managed to sell 191,011 units in the first half of the year, contributing 8.90 percent of BYD Group’s total sales.
The Yuan Up, initially launched in March 2024, has already made its mark in overseas markets under the name Atto 2. With launches in Europe and Malaysia, the compact electric SUV has garnered attention for its innovative design and eco-friendly features.
As BYD continues to evolve its product offerings and market strategies, the introduction of the new Yuan Up variant signals a shift towards affordability and accessibility for a wider range of consumers. With its distinctive features and competitive pricing, the Yuan Up remains a compelling option in the rapidly expanding electric vehicle market.
