BYD is accelerating the advancement of its lineup.
Chinese EV maker BYD (002594:SZ) reveals details about the upcoming high-end brand.
Li Yunfei, the general manager of the BYD’s Brand and Public Relations business division, explained the brand positioning, product planning and operation mode on social media.
He summarized BYD's light vehicle business comprises the Dynasty series, the Ocean lineup, Denza and a new premium brand. Of which, Denza is jointly owned by Mercedes-Benz, while the other three are fully controlled by the Shenzhen based auto maker.
The multinational company has scheduled to release its new premium brand in Q3, and its first model - a tough SUV priced CNY 0.8 million to CNY 1.5 million (USD 120,000 to USD 223,000) - will be launched in Q4 this year. And the car will be available in the first half of 2023.
Li also highlighted that BYD would equip the new series with its cutting edge technology, representing the company's capability in electrification and intelligence.
If this pricing successfully delivered, BYD could be the Chinese brand with the most expensive mass produced model ever.
Earlier this month, BYD rolled out its most expensive model to date, Denza D9, a multifunctional vehicle priced at CNY 335,000 to CNY 445,000.
According to China Passenger Car Association, BYD sold 105,475 cars in April, up 134% year-on-year.