BYD undercuts the Tesla Model 3 with its new Formula S EV, starting at under $29,000

This one's about car news rather than home energy upgrades, but here's what happened. BYD, the Chinese automaker, launched a new line of electric sedans and sport GT models called the Formula S series, sold under its Fang Cheng Bao brand. Prices range from about $28,000 to $35,000, with the base rear-wheel-drive sedan starting under $29,000 — cheaper than a comparable Tesla Model 3 in China, which starts around $35,000.

The cars come with BYD's latest battery and fast-charging technology, letting them charge from 10% to 70% in about 5 minutes. Range estimates (using the Chinese CLTC test standard, which tends to run higher than U.S. EPA numbers) go up to 559 miles for the longest-range sedan version. The lineup also includes driver-assist features, adjustable suspension settings, and interior extras like ambient lighting and a small built-in refrigerator.

For now, these models are only confirmed for the Chinese market. BYD has been expanding some of its other models overseas, including into the UK and Europe, but whether the Formula S line comes to the U.S. isn't yet known. If you're not shopping for a car, this doesn't touch your home energy plans directly — but it's a sign that EV prices keep dropping globally, which is worth watching if a future electric vehicle purchase is part of your household's broader plan to cut energy costs, especially if you're pairing it with home solar or a charger setup.