From January to October 2022, sales of new energy vehicles from the Shenzhen-based automaker jumped 240 percent annually to 1.39 million units. It is known that BYD will stop production of conventional gasoline-fueled vehicles in March 2022.
“Starting as a niche brand and then becoming mainstream, BYD’s development reflects the rise of China’s auto brand and the rapid growth of the new energy vehicle industry in the country,” said BYD Founder Wang Chuanfu, as quoted by Xinhua, Thursday (17/11/2022).
Wang revealed that BYD will launch a new premium electric car brand in the first quarter (Q1) of 2023. The premium electric car brand comes under the name Yangwang and its first model is slated to be an off-road vehicle.
Vehicles manufactured under the new brand will be priced between 800 thousand yuan and 1.5 million yuan. And, so far, BYD’s new energy buses have been sold to more than 400 cities in more than 70 countries and regions globally, including Norway, Germany, Japan, Thailand and Brazil.