<div id="readability-page-1"><div><div>BYD Co. Ltd. BYDDY BYDDF has launched a $15,000 EV as the electric vehicle price war heats up in the Chinese domestic market.What Happened: Available in two trim levels, the Seal 06 EV offers a range of 292 miles with the 46 kWh battery pack, while the long-range variant is good for 339 miles on a single charge with a 56 kWh battery pack, the brand revealed on Saturday.The base trim retails for 109,000 Yuan or just over $15,000 while the top-spec variant comes in at around 129,000 Yuan or almost $18,000.Interestingly, the base Tesla Inc. TSLA Model 3 costs almost double the price of the Seal 06 EV at 235,500 Yuan.The vehicle comes equipped with BYD's God's Eye ADAS system. However, it utilizes a camera-based system rather than LiDAR, like some of the pricier models in the BYD lineup.Why It Matters: BYD has been at the forefront of the Chinese EV price war, which has recently come under scrutiny from the authorities. Without naming any brands, recently, the Chinese Communist Party's (CCP) newspaper, The People’s Daily, slammed the “rat race” in the domestic EV sector.The brand also introduced its best-selling Seagull hatchback EV in the European market, dubbed the Dolphin Surf EV, for $26,000 as the company overtook Tesla for the first time in regional sales.BYD is also establishing its presence in Europe with local manufacturing capabilities as the Chinese EV giant's Hungarian plant is under construction. The plant can produce over 200,000 EVs annually.However, as BYD continues its growth, a major dealer for the company closed down over 20 dealerships in China’s Shandong province, citing changes to the automaker’s dealer policy. The shutdowns have affected over 1,000 customers with warranty and after-sales service woes.Check out more of Benzinga’s Future Of Mobility coverage by following this link.<ul> <li>Tesla’s Model Y Tops China SUV Sales Chart In May With Over 24,700 Cars Sold</li> </ul>Photo courtesy: Tada Images / Shutterstock.com</div></div></div>

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BYD Co. Ltd. has launched the Seal 06 EV at a price of $15,000 amid a growing price war in China's electric vehicle market. The Seal 06 offers two variants with ranges of 292 and 339 miles, respectively. The base model is significantly cheaper than Tesla's Model 3, which costs around $33,000. BYD is also expanding in Europe with a new manufacturing plant in Hungary, while facing challenges with dealership closures in China affecting customer service.

- BYD Co. Ltd. has launched the Seal 06 EV, priced at approximately $15,000, amid a competitive electric vehicle market in China.  
- The Seal 06 EV offers two variants with ranges of 292 miles and 339 miles, significantly undercutting the base Tesla Model 3, which costs nearly double.  
- Despite its growth, BYD faces challenges, including the closure of over 20 dealerships in Shandong province, impacting customer service and warranty support.  

Tesla Rival BYD Launches $15,000 Seal 06 Sedan As China's EV Price War Heats Up