The launch adds fresh competition in China’s crowded premium SUV market, where Li Auto and Xpeng are also pushing new models to challenge Tesla’s dominance.
BYD’s premium sub-brand Fang Cheng Bao will roll out its new Tai 7 hybrid SUV on Sept. 9, setting prices below Tesla’s Model Y to win over buyers in China’s crowded SUV market.
The Tai 7 is expected to cost between 250,000 and 300,000 yuan ($34,990–$42,000), making it slightly cheaper than Tesla’s Model Y Long Range, which now sells for 313,500 yuan ($43,270) in China after recent price hikes. Even at its highest trim, the Tai 7 undercuts Tesla’s SUV by around 13,500 yuan ($1,870).
The new entry joins an increasingly competitive segment. Xpeng’s G7 sells for around $27,000, well below both the Tai 7 and Tesla, while Li Auto’s i6, a large pure-electric SUV expected in mid-2025, will carry a price tag of 200,000–250,000 yuan ($27,400–$34,990), overlapping directly with the Tai 7’s lower trims.
According to a CnEVPost report, the Tai 7 measures 4,999mm in length with a 2,920mm wheelbase and comes equipped with BYD’s God’s Eye smart driving system, available in both LiDAR-equipped and standard versions.
The all-wheel-drive long-range model features a 35.6-kWh battery, offering up to 180 km of electric-only range, while two-wheel-drive versions utilize a 26.6-kWh pack for about 135 km of range.
Display models went on show at over 300 Fang Cheng Bao stores across China on Sept. 1, following the rollout of the first production vehicles on Aug.11.
Meanwhile, the brand’s sales momentum remains strong. In August, Fang Cheng Bao sold 16,265 vehicles, a 233.6% increase year-on-year. The lineup currently includes the Bao 5 and Bao 8 hybrid off-road SUVs, as well as the Tai 3 compact family SUV.
The Tai 7 marks the second model in Fang Cheng Bao’s Tai series, launched in December 2024 as the brand’s second major product line after the introduction of the Bao series.
On Stocktwits, retail sentiment was ‘extremely bullish’ for BYD and Li Auto with ‘high’ and ‘extremely high’ message volume, respectively, ‘bearish’ for Xpeng with ‘low’ volume, and ‘extremely bearish’ for Tesla with ‘normal’ volume.
So far this year, BYD’s U.S.-listed stock is up 25.3%, U.S.-listed stocks of Li Auto and Xpeng have climbed 1.7% and 76% respectively, while Tesla is down 18%.
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