fbpx

Type to search

China’s BYD Planning Premium EV Brand Launch Next Year

The automaker revealed nothing more than the estimated price of its new upmarket range, which will start above 1 million yuan ($138,096.75)


Buyers look at one of BYD's electric vehicles
Buyers look at one of BYD's electric vehicles Photo: Reuters

 

Chinese electric vehicle leader BYD is to launch a new premium brand next year.

The automaker, which now exclusively produces EVs and hybrids, said vehicles produced under the new brand will be priced above 1 million yuan ($138,096.75).

 

Also on AF: Asia Shares Mixed as Investors Wait on US Mid-Terms Outcome

 

Having ditched gasoline vehicles from its product mix this year, BYD has, more than any other automaker, been able to capitalise on a range of incentives for electric cars offered by the Chinese central government as well as local governments.

The automaker, which produces both pure electric and plug-in hybrid cars, has topped electric vehicle sales in the world’s biggest auto market, with sales more than tripled in the first 10 months to hit 1.4 million, according to company filings.

 

  • Reuters with additional editing by Sean O’Meara

 

Read more:

Toyota, BYD Team Up to Make New Electric Car in China

BYD Shares Jump as Chinese EV Giant Flags Profit Surge

BYD Sells 100,000 EVs to Sixt as China Auto Firms Eye EU Push

 

 

Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.