BEIJING (Reuters) - Chinese electric vehicle giant BYD (SZ:002594) on Monday launched a new version of its plug-in hybrid sedan Qin Plus DM-i with a lower starting price, doubling down on price cuts to stay competitive in the world\'s largest auto market.
The new model goes for a starting price of 79,800 yuan ($11,090), down 20% from the previous version.
The Qin Plus hybrid competes with best-selling gasoline sedans such as Nissan (OTC:NSANY)\'s Sylphy and VW\'s Lavida.
($1 = 7.1953 yuan)