Another "Price Hike” for NEV. BYD Announced to Increase Prices Ranging from 3000-6000 Yuan

Published: Mar 16, 2022 15:37

Save

BYD (01211.HK/002594.SZ) official Weibo released a Note on Model Price Adjustment. BYD Auto will adjust the official guided prices of new energy models on Wangchao and Hellosea.com by a range of 3,000-6,000 yuan due to the continued significant increase in raw material prices.

ChinaIPO.COM, Mar 16 - BYD (01211.HK/002594.SZ) official Weibo released a Note on Model Price Adjustment.

BYD Auto will adjust the official guided prices of new energy models on Wangchao and Hellosea.com by a range of 3,000-6,000 yuan due to the continued significant increase in raw material prices. The price adjustment will take effect from 0 o’clock on March 16. Customers who have paid a deposit and signed up before then will not be affected by this price increase.

However, BYD has not announced any price increase for specific models, which is based on the actual situation in 4S shops. Currently, Wangchao sells models such as Qin, Yuan, Song Pro and Tang, while Hellosea sells models such as Dolphin and Song Plus.

What worth mentioning was that Tesla had also increased the prices of its products on its official website in the US and China. Tesla's official website in China showed that the Model 3 Performance and Model Y Long Range, Performance versions had increased in price by 18,000-20,000 yuan. Prices of Model 3 Performance had rose to 367,900 yuan, up 18,000 yuan from Mar 10 349,900 yuan. The prices of the Model Y Long Range and Performance are 375,900 yuan and 417,900 yuan respectively, up 18,000 yuan and 20,000 yuan from Mar 10 357,900 yuan and 397,900 yuan.

Last week, Tesla had increased the prices of its US-made Model Y and Model 3 long-range versions by $1000.

In fact, besides the rising prices of raw materials and chip shortages, what put pressure on the supply chain included many domestic new energy vehicles, which had varying degrees of price increases. According to data released by the official media, nearly 20 new energy vehicle companies have announced price increases since March, involving nearly 40 models.

NEV BYD

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Aug 28, 2026 20:46

Southwest China’s First Direct All-Cargo Flight Route to Africa Launched

[Southwest China’s First Direct All-Cargo Flight Route to Africa Launched] On 28 August, the first scheduled all-cargo flight route from Southwest China directly to Africa – the Chengdu Tianfu to Addis Ababa, the capital of Ethiopia – was officially launched. It is understood that the service operates twice weekly (on Mondays and Fridays), with each flight having a maximum cargo capacity of 100 tonnes. Inbound shipments primarily consist of African specialities such as coffee, fresh flowers, and fruit and vegetables; outbound shipments mainly comprise high-value-added products such as new energy vehicles, photovoltaic equipment and lithium-ion batteries. Addis Ababa is one of Africa’s key aviation hubs. Leveraging the local route network, goods departing from Chengdu can be transhipped to several major African cities upon arrival in Addis Ababa; conversely, goods from Africa can enter the western Chinese market via Chengdu and be distributed to other regions through transport networks including air, road and rail. The launch of this new route also adds a new air freight corridor for economic and trade exchanges between western China and Africa.

Aug 28, 2026 20:46

Huawei Enters the Battery-Swapping Market; Yijing’s Second Model to Feature a Battery-Swapping Version

[Huawei Enters the Battery-Swapping Market; Yijing’s Second Model to Feature a Battery-Swapping Version] Yijing, the new energy brand jointly developed by Dongfeng and Huawei, is considering a battery-swapping version for its second model; the project is currently in the preliminary research phase. On the eve of the 2026 Chengdu Motor Show, the Yijing X9 officially launched nationwide pre-sales, offering three range-extended variants with pre-sale prices ranging from 299,800 to 379,800 yuan – 180,000 yuan cheaper than the starting price of the 2026 Aito M9.

Aug 28, 2026 20:46

Aug 28, 2026 19:53

[SMM Analysis] In August, the Electrolyte Raw Material Side Was Structurally Tight, with a Time Lag in Finished Product Price Transmission

[SMM Analysis: Structural Tightness in Electrolyte Raw Materials in August; Finished Product Price Transmission Lags] In August, the lithium battery industry chain entered a pre-stocking cycle ahead of the "September-October peak season." Demand from both the power battery and energy storage sectors continued to be released, driving a steady rise in electrolyte industry operating rates and production. The industry as a whole continued to show a structural pattern of ample nominal capacity for finished electrolyte but tight supply of core raw materials such as LiPF6 and VC. Rising prices of upstream lithium chemicals and additives pushed up finished electrolyte prices, but these increases had not yet been fully transmitted to downstream clients. Future price trends still need to be continuously monitored along with raw material price changes and the extent of transmission.

Aug 28, 2026 19:53