BYD Co. China will launch a new premium electric car brand in 2023. BYD Assistant General Manager of Corporate Branding Brian Luo said they will launch a premium electric car brand under the auspices of BYD which will be launched in the first quarter of 2023.
BYD stopped producing gasoline engine vehicles this year and then took advantage of electric car incentives from the Chinese Government, both Central and Regional. BYD then ramped up production of fully electric cars to market them to global markets, including Norway, New Zealand, Singapore, Brazil, Costa Rica and Colombia.
“BYD has sold its cars to 35 countries outside of China since it started exporting to Norway last May,” said Luo, quoted today, Friday, December 16, 2022 from Reuters.
BYD became the best-selling car brand in China in the first four weeks of November 2022. Broker data shows that BYD outperformed Volkswagen’s car sales, which have long been hampered by semiconductor chip supplies.
The Chinese automaker also competes with US electric car giant Tesla Inc., both in China and the global market.
Both BYD and Tesla recorded sizable sales of electric cars in November 2022 in the Chinese market.
