BYD announced Friday that it will kick off deliveries of Seal, the company’s sports electric sedan, next month. The new model comes with a price tag close to Tesla’s China-made Model 3, as the Chinese electric vehicle giant seeks to attract young upper-middle-class consumers in the country. Also known as Atto 4 in overseas markets, the long-anticipated Seal is priced between RMB 209,800 and RMB 286,800 ($31,060 to $42,460) and equipped with BYD’s new battery pack, which provides a driving range of up to 700 km (435 miles). The automaker said on Friday that it has received more than 60,000 pre-orders in two months for the new sedan. [BYD release, in Chinese]