BYD Dolphin, Atto, and Seal: Chinese Electric Cars Priced 50% Cheaper than Hyundai Ioniq 6

Ferry Sandi, CNBC Indonesia

Sunday, 03/03/2024 07:45 IWST

Photo: BYD Motor Indonesia officially released prices for its entire product range on the first day of the 2024 Indonesia International Motor Show (IIMS). (CNBC Indonesia/Tri Susilo)

Jakarta, CNBC Indonesia – The presence of Chinese electric car manufacturers such as Build Your Dream (BYD) is a serious challenger to Hyundai electric cars. BYD can even offer much cheaper prices than Hyundai, which has already entered Indonesia.

BYD has officially announced the prices of its three cars at the 2024 Indonesia International Motor Show (IIMS) at Ji-Expo Kemayoran some time ago. BYD Dolphin is priced at IDR 425 million, BYD Atto IDR 515 million and BYD Seal IDR 629 million (low variant) and IDR 719 million (high variant).

The BYD Seal in the form of a sedan will face the Hyundai Ioniq 6 which is already being sold in Indonesia with a price tag of IDR 1.2 billion. This means that the price difference between the two is very large, around IDR 500-600 million or almost half.

Meanwhile, BYD Atto 3’s competitor, the Hyundai Ioniq 5, is priced at IDR 782 million to IDR 895 million. The price difference between the two is around IDR 267-380 million. Moreover, BYD’s prices could fall even further after local assembly runs.

Photo: BYD Motor Indonesia officially released prices for its entire product range on the first day of the 2024 Indonesia International Motor Show (IIMS). (CNBC Indonesia/Tri Susilo)
BYD Motor Indonesia officially released prices for its entire product range on the first day of the 2024 Indonesia International Motor Show (IIMS). (CNBC Indonesia/Tri Susilo)

“Regarding the price, it is already on the road OTR. In the future, if the factory is available locally, our aim is to provide more competitive prices for our vehicle units,” said President Director of PT BYD Motor Indonesia Eagle Zhao in an interview with CNBC Indonesia, quoted on Sunday (3/3 /2024).

Currently BYD only sells CBU (completely built up) cars or cars imported directly from the country of origin in intact or complete condition. However, this Chinese manufacturer has committed to the Indonesian government to immediately build a factory domestically in the future.

If domestic assembly is underway, the price of the car can be further reduced. Moreover, apart from assembling cars, it is possible that BYD will also build a battery factory in Indonesia.

“Creating a factory here is only a matter of time. Our factory planning is still on track and is still in the planning stage, of course it won’t just be an assembly factory, but we are sure that we want to be deeply involved in the supply chain in Indonesia,” said Eagle.

Some of these plans could further reduce the price of cars from this Chinese brand. Manufacturers who entered Indonesia first, such as Hyundai, need to be careful. Currently, Hyundai has assembled the Ioniq 5 at the Cikarang factory, while the Ioniq 6 is still imported CBU.

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