The bustling Shanghai auto show has witnessed a swarming mob of onlookers gathering around an unpretentious yet striking, sunshiny yellow hatchback, stationed at the booth of China’s most extensive electric car manufacturer, BYD.

Christened the “Seagull”, the latest electric vehicle rolled out by BYD had its grand debut at the event earlier this week. Rather than being captivated by its physical appearance or attributes, the spectators were taken aback by the car’s market value, which begins at a trifling 78,000 yuan, roughly equivalent to $11,300 – a cost that’s about 50% less than the lowest-priced new energy cars offered by other companies.

As per BYD’s statement, the vehicle comes in two ranges, spanning from 305 to 405 kilometers (190 to 252 miles), facilitated with a rapid charging system that could boost its charge from 30% to 80% in just half an hour. The car is fueled by a lithium iron phosphate BYD Blade battery.

The last few years have witnessed Chinese carmakers proliferating in the world’s biggest automobile market, radically transforming the competitive terrain. Companies like BYD are gearing up to unleash their cutthroat domestic prices on a global scale by expanding exports.

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