Writing | Wu Yihan
Editing | Wu Xianzhi
BYD achieved good results in October with 217,800 vehicles delivered, and a few days later it announced the establishment of a new energy high-end brand. On the evening of November 8, 2022, BYD forwarded and pinned a Weibo post, announcing the establishment of its high-end automotive brand “Yangwang”.
According to Qichacha, the brand’s name is Shenzhen Yangwang Automotive Sales Co., Ltd., established on November 7, 2022, and 100% controlled by BYD. Its main business scope is the sale of new energy vehicles and accessories.
According to The Paper, the brand’s expected price range is between RMB 800,000 and RMB 1.5 million. The person in charge of BYD has revealed to the media that the next goal is to create a million-level new energy high-end brand. The first model under the brand’s name, a rugged off-road vehicle, will be globally released at the end of this year and officially launched in the first half of 2023, with a price above RMB 1 million.
“Yangwang” will operate independently in terms of brand, product, sales and service network, and operational team.
From the last sentence of the first Weibo post released by Yangwang Automotive – “Yangwang will become the representative and benchmark of China’s high-end automotive brand, boldly leading the trend.” – it can be seen that BYD has ambitions to impact the new energy high-end brand market. The lively new energy high-end market will welcome a new opponent, and the domestic market’s new energy high-end brand pattern may change again in the future.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.