Chinese EV giant unveils next-gen model with incredibly low price tag: 'Just amazing'

Electric vehicle giant BYD recently launched an all-electric car boasting a shockingly low price tag, appealing to young drivers and taxi fleets with its standout combination of affordability and modern features. 

Called the e7, the mid-size sedan comes equipped with LED headlights, a 15.6-inch central touchscreen, a 5-inch driver display, ergonomic "cloud-sensing" seats, and an optional panoramic sunroof. At 16 feet long and 6 feet wide, the car is similar in size to a Tesla Model 3 but comes in at a dramatically lower price point.

The e7 is powered by a single electric motor with 100 kilowatts of peak power, reaching a top speed of 93 miles per hour, according to CnEVPost. Buyers can choose between two battery packs: a 48-kilowatt-hour version offering up to 280 miles of range, and a 57.6 kWh version extending the range to 323 miles.

BYD's new EV model is available in three variants, starting at just $14,500, according to Electrek. For a limited time, customers can receive a $700 discount if they purchase before June 30, bringing the entry-level cost down to $13,700. As Electrek points out, this places the car at about half the price of a Tesla Model 3.

"Just amazing," one commenter on an Electrek article wrote in reaction to the price point.

Like many of BYD's offerings, the sedan will only be available in China — for now. BYD already exports several EVs to Europe, Latin America, Southeast Asia, and more countries. But EV experts say the low price would be harder to maintain after import tariffs, regulatory costs, and feature upgrades required for Western markets.

Still, the e7's aggressive pricing could reshape the Chinese EV market and strengthen BYD's position as an industry leader. In 2024, BYD sold a record 4.25 million new energy vehicles, a more than 40% increase from its 2023 numbers, according to Car News China. This rapid expansion — and the similar success of other EV makers — is a major win for the planet. 

Transportation is the second-largest source of environmental pollution, right behind electricity and heating. Unlike gas-powered cars, electric vehicles produce no tailpipe pollution and don't rely on dirty energy sources to run. According to the Environmental Protection Agency, broader EV adoption could lead to better public health, reducing the risk of respiratory issues, chronic illnesses, and even cancer tied to air pollution.

Plus, making your next car an EV will save you money on maintenance and regular fueling. That's not only a win for your wallet, but for the planet.

When considering switching to an EV, many drivers share a similar concern — the costs and logistics of charging a vehicle at home. Even with rising energy costs worldwide, the national average cost per eGallon is $1.41, which is less than half the national average cost of a gallon of gasoline. 

If you were going to purchase an EV, which of these factors would be most important to you? Cost 💰 Battery range 🔋 Power and speed 💪 The way it looks 😎 Click your choice to see results and speak your mind.

It's worth noting that installing solar panels can dramatically increase your EV-related savings, allowing you to charge your vehicle with endlessly renewable solar energy rather than dirty fuel from the grid. This can cut down on charging costs — plus solar adoption lowers (or eliminates) your utility bill and helps the planet.

For those interested in harnessing solar for EV power, EnergySage makes it easy to compare quotes from vetted local installers and save up to $10,000 on solar installations. This can help ease the steep up-front investment of solar, helping to make the switch more affordable.

With EnergySage, eligible homeowners are likely to spend around $20,552 to install a system after federal tax credits, depending on location and needs. But even this lower cost may not be in everyone's budget. Leasing solar panels can be a good option for those looking to go solar for less. 

Palmetto's LightReach solar panel leasing program helps homeowners install panels for no money down, allowing users to lock in low energy rates. A Palmetto lease provides a reliable monthly rate for the solar energy your system generates — so say goodbye to unpredictable utility bills, even during high-demand months. Plus, Palmetto covers all equipment, maintenance, and service, meaning no surprise repair costs to disrupt your budget.

Not sure whether to lease or buy your solar panels? This pros and cons list breaks down both options, helping you choose what works best for your home and budget.

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