In a report by Automotive News, BYD will launch a new premium EV brand named Yangwang in Q1 2023. The first model is expected to be an off-road vehicle.
The report also mentioned that cars from Yangwang will be priced between CNY 800,000 (around RM 511k) to CNY 1,500,000 (around RM 958K).
While BYD currently sells only battery-electric vehicles (BEV) and plug-in hybrid vehicles (PHEV), it is unclear if Yangwang will be strictly EV-only brand.
Also read: BYD to CKD EVs in Thailand and become production hub for Southeast Asia
South China Morning Post reports that the first model will be priced at around CNY 1,000,000 (around RM 635k).
“BYD will build the 1 million yuan-level vehicles under the luxury brand with disruptive technologies and innovative products,” said Wang Chuanfu, CEO of BYD, at the company’s headquarters. “We will bring our car users an unprecedented experience.”
Source: BYD to go upmarket: Yangwang will be to BYD what Lexus is to Toyota
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