BYD Reportedly Planning to Introduce Luxury Models This Year

BYD Co., the Chinese vehicle manufacturer, is reportedly launching a high-end luxury car brand this year. The company revealed this plan and shared that this is a step to improve quality and profits.

Business Today reported that in its Hong Kong Stock Exchange (HKSE) filing on Sunday, Feb. 18, BYD said it will be releasing not one but several luxury models. The Chinese automaker is now one of the world's fastest-growing vehicle makers; apparently, it is expanding its offerings/models to widen its market further.

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Moreover, BYD has defeated Tesla to become the world's biggest electric car maker, and it is set to unveil its first electric "supercar" under its Yangwang luxury brands. According to The Driven, the firm's first release will be this month, with the introduction of the U9 model this coming weekend.

It is said to be a two-door, quad motor vehicle, and auto analysts on social media have already posted some of its photos. From the images shared on X, formerly called Twitter, the new supercar from BYD was designed to be more race-focused with high track performance.

It is powered by a quad motor that can generate 960 kW of power and 1280 Nm of peak torque. It was also suggested that its speed reach 300 km/h, and the U9 will have a 100 kWh blade battery to power its four motors.

BYD’s Yangwang High-end Brand

The firm has not yet announced its new luxury brand, which is reportedly called "Yangwang." However, sources confirmed the name last weekend. It is not yet known when BYD will reveal its new high-end line.

Meanwhile, suggested pricing for BYD's upcoming luxury models could be about 1,000,000 RMB or $A215,000. Previously, the starting price of its sports car-like models was under $50,000.

Photo by: Michael Förtsch/Unsplash