BEIJING: Chinese electric vehicle giant BYD 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.

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The Qin Plus hybrid competes with best-selling gasoline sedans such as Nissan’s Sylphy and VW’s Lavida.