BYD has just launched another all-electric model in China—the Yuan Up, which is expected to strengthen the company’s position in the entry-level part of the market.

The BYD Yuan Up will start at just $13,400 (96,800 CNY), which is a price point that we can only dream of in other markets. And that’s not even the least expensive BYD in the lineup—the Seagull is at around $11,000.

The car is based on the e-Platform 3.0 (used also in the standard Yuan model) and is powered by BYD’s Blade Battery (a type of long lithium-ion LFP cell). Its length is 4,310 mm, width is 1,830 mm, height is 1,675, and the wheelbase is 2,620 mm.

There are three trim levels of the BYD Yuan Up available in China. The entry-level one is equipped with a 32-kilowatt-hour battery for up to 187 miles (301 km) of CLTC range (it’s an optimistic test cycle). The peak power output is 70 kilowatts, while the peak torque is 180 Nm. That’s enough to accelerate from 0 to 62 mph (100 km/h) in about 12 seconds. The car with these specs starts at $13,400 (96,800 CNY).

The other two trim levels have better specs. The battery is larger—45.12 kWh, so the CLTC range is 249 miles (401 km). There is also a more powerful electric motor: 130 kW and 290 Nm peak, which can accelerate the car from 0 to 62 mph (100 km/h) in 7.9 seconds. The price for this version is also quite interesting at about $15,200 (109,800 CNY) and $16,600 (119,800 CNY), depending on the trim level.

Recharging the batteries at a fast charger from 30 to 80% state-of-charge takes about 30 minutes.

BYD Yuan Up: Blade Battery

BYD hopes to increase its sales volume with the Yuan Up. According to CnEVPost, to attract more customers, the company offers a $277 (2,000 CNY) trade-in subsidy and a 24-period 0% interest loan.

The ongoing price war in the EV segment in China, combined with the introduction of new affordable models is something that should boost the Chinese EV market. The market already is responsible for 50-60% of global plug-in electric car sales. The BYD Yuan Up might be challenging to Tesla, which has yet to unveil its affordable EV. We will see whether the BYD Yuan family or other EVs will be able to dethrone the Model Y as the best-selling all-electric model in China in 2024.