BYD is shaking up the Chinese automotive market with its latest offering for budget-conscious buyers: the Qin Plus DM-i plug-in hybrid. With a starting price of 79,800 yuan, roughly $11,000, it stands out as one of the most competitively priced PHEVs in its segment and beyond.“The price will make gasoline car assemblers tremble,” BYD said in a statement on its social media channels. “The Glory Edition will become a benchmark for the compact car segment.” Indeed, as pointed out by Chinese media, the Qin Plus DM-i undercuts the base versions of competing vehicles such as the similarly sized VW Lavida, China’s best seller, by around 15 percent, the Toyota Corolla by over 40 percent, and the hybrid Prius by over 50 percent.Read: BYD Wants To Build A Factory In Mexico As It Seeks Global DominationThe leading Chinese electric vehicle company has been building the Qin Plus DM-i for quite some time, but this new cut-price variant, the Glory Edition, is 20,000 yuan (~$2,700) cheaper than the previous entry-level version.