BYD launches a 'Model 3 killer' EV in China for half the price of Tesla's top-selling car

Tesla's Model 3 has long dominated China's electric vehicle (EV) market. Now, its Chinese rival BYD has launched a new sedan with similar features as of Model 3 at around half the price.

BYD's model, named Qin L, starts at $16,517 while Tesla's Model 3's basic edition costs consumers $32,500.

Qin L gives Tesla tough competition in performance too. Model 3 offers a driving range of 634 kilometres, slightly more than Qin L's 545 kms.

But what about self-driving features?

Like Tesla, Qin L also comes with preliminary self-driving software and a digital cockpit.

Touted as one of the most serious challenges yet to Tesla's Model 3 and Model Y SUV, Qin L along with Xpeng's Mona M03 further threaten to cast shadow on Tesla's sales in China.