The Tesla Model 3 has a new problem — and it isn't another luxury EV costing twice as much. BYD has launched the Formula S in China at just 189,900 yuan, roughly $28,000, while offering up to 900 km of CLTC range and extremely fast charging.
That makes the Formula S more than another Chinese EV launch. On paper, BYD has put a large electric sedan with serious range and high-end hardware into a price bracket where the Tesla Model 3 has traditionally been one of the obvious choices.
- The Diagnostic: BYD’s new Formula S starts at 189,900 yuan and reaches up to 900 km of CLTC range in its long-range rear-wheel-drive configuration.
- The Price Shock: The headline price is for the Chinese market. It does not mean buyers in the U.S. or Europe will get a $28,000 Formula S.
- The Big Deal: BYD claims 10–70% charging in about 5 minutes, making charging speed one of the car’s biggest talking points.
BYD Formula S Is Not Just Another Cheap EV
The first thing to understand is where this car actually comes from.
The Formula S sits under Fang Cheng Bao, BYD’s brand focused on more distinctive and specialized vehicles. Until now, the name has been associated heavily with SUVs such as the Bao models and the Tai series.
Formula S changes that direction.
It is the brand’s first sedan line, and BYD launched two body styles at once: the regular Formula S sedan and the Formula S GT shooting brake.
The sedan starts at 189,900 yuan and runs up to 229,900 yuan. The GT starts at 219,900 yuan and tops out at 239,900 yuan.
That works out to roughly $28,000–$34,000 for the sedan and about $32,000–$35,000 for the GT, depending on the version and exchange rate.
And here's the part that makes the launch interesting: those final prices came in below the earlier pre-sale range of 230,000–280,000 yuan.
That's a pretty aggressive move.
The Range Number Looks Almost Ridiculous — Until You Read the Fine Print
The headline figure is 900 km of CLTC range.
Converted directly, that's about 559 miles.
But don't make the classic EV mistake of treating a laboratory test number as your guaranteed highway range.
CLTC is a Chinese testing cycle, and real-world range can be considerably different depending on speed, temperature, traffic, tires, air conditioning and driving style.
Still, the hardware behind the number is significant.
The long-range Formula S uses a 92.093 kWh second-generation Blade Battery and rear-wheel drive. The lineup also includes a smaller battery configuration with a claimed 730 km CLTC range.
All-wheel-drive versions are rated around 750 km CLTC.
So BYD isn't simply throwing one giant battery into one expensive trim and calling it a day. There is a reasonably broad lineup.
The 5-Minute Charging Claim Is the Real Attention Grabber
Range gets the headlines.
Charging time is what you actually feel during a road trip.
BYD says the Formula S can charge from 10% to 70% in about 5 minutes using its Flash Charging system. The company also quotes around 9 minutes to go from 10% to 97%.
If those figures translate cleanly into real-world charging stations, that's a massive convenience advantage.
Think about the difference between grabbing coffee while your EV charges and planning your entire road trip around the charging stop.
But there's an important catch.
Those numbers depend on having access to compatible high-power charging infrastructure. A car capable of extremely fast charging doesn't magically make a normal public charger faster.
The charger is still the bottleneck.
So don't buy the car because you saw "5 minutes" in a headline. Ask where that charging hardware is actually available.
Formula S vs. Tesla Model 3: The Numbers Get Interesting
The Chinese-market comparison is where the Formula S gets uncomfortable for the Model 3.
| Metric | BYD Formula S | Tesla Model 3 |
|---|---|---|
| Chinese starting price | 189,900 yuan | 235,500 yuan |
| Starting price in USD | About $28,000 | About $35,000 |
| Maximum quoted range | Up to 900 km CLTC | Up to 830 km CLTC |
| Fast charging claim | 10–70% in about 5 minutes | Varies by version and charger |
| Drive options | RWD and AWD | RWD and AWD, depending on market |
| Market availability | China at launch | Sold across multiple markets |
The important detail is that this is not a clean global price comparison.
The Formula S launch price applies to China. Taxes, tariffs, shipping, homologation, local distribution and other costs can completely change the final price in another country.
So the "$28,000 Tesla killer" headline is catchy.
It is not a global price tag.
And Then There Is the Hardware
BYD didn't make the Formula S cheap by making it look like a stripped-down economy car.
Depending on the configuration, the car can be equipped with BYD's DiSus-A air suspension system or the new DiSus-M magnetorheological suspension.
The latter is particularly interesting because it can adjust damping extremely quickly.
In normal-driver language: the suspension is trying to react to what the road is doing instead of simply giving you one fixed compromise between comfort and handling.
The Formula S also gets BYD's second-generation Blade Battery, advanced driver-assistance hardware, LiDAR on applicable versions, and the company's God’s Eye B system.
Inside, the equipment list gets even stranger.
There is a 26-inch AR head-up display, premium audio, zero-gravity seating, ambient lighting and even a built-in smart refrigerator on the feature list.
A $28,000 electric sedan with a refrigerator?
Welcome to the Chinese EV price war.
The Biggest Catch Isn't the Car
Here's where the Reddit debate around the Formula S gets more interesting.
A lot of the discussion isn't actually about whether the car has enough technology.
It's about whether this aggressive pricing can travel outside China.
One commenter argued that a car priced below $29,000 in China could become dramatically more expensive in Western markets. Others pointed toward tariffs and local market protection as major reasons.
That's a fair question.
A Chinese domestic price and a U.S. showroom price are not the same thing.
And as of this launch, there is no confirmed U.S. Formula S retail price to point to.
So if you're looking at the Formula S from America or Europe and thinking, "I'll take one for $28K," slow down.
That price currently tells you what BYD can charge in China.
It doesn't tell you what the car would cost after crossing an ocean and entering another regulatory and tax system.
Three Things to Watch Before Getting Excited
1. Don't confuse CLTC with highway range.
900 km sounds incredible. Real-world highway driving is a different test. Treat the CLTC number as a benchmark, not a promise.
2. Watch the charging infrastructure.
Five-minute charging is impressive only when the charger can actually deliver it. Infrastructure matters just as much as the battery.
3. Watch where BYD takes the Formula S next.
The biggest question isn't whether BYD can build a $28,000 electric sedan in China.
It already has.
The interesting question is what happens when cars like this start pushing into markets where EV prices are much higher.
Because once consumers see a long-range EV with serious performance, fast charging and premium equipment selling at this price level, the conversation changes.
The Formula S doesn't need to replace the Tesla Model 3 tomorrow to matter.
It just needs to make buyers ask a very uncomfortable question:
Why does my next electric sedan have to cost so much?
Would you actually buy a $28,000 BYD Formula S over a Tesla Model 3 if BYD brought that same Chinese-market price to your country? Tell us why in the comments below!
🛡️ DAYLL Editorial Transparency
This post was researched and synthesized by the Dayll consumer editorial team. We test, verify, and cross-reference public policies and insider tips to bring you actionable advice without sponsor influence.
