• BYD continues to expand its automotive division
• Portfolio is expanded to include a new premium brand
• Start already in 2023
Investors first focused on BYD in 2008, when Berkshire Hathaway, the holding company of stock market guru Warren Buffett, invested in the Chinese manufacturer of electric vehicles and batteries. However, given the tensions between Washington and Beijing, many analysts have recently advised caution when it comes to Chinese stocks.
In addition, BYD Vice President Lian Yubo admitted at the China Auto Forum that the New Energy Vehicle (NEV) sector is currently struggling with a number of difficulties. In addition to the growing competition – for example from NIO – this also includes lithium problems. Nevertheless, Yubo was optimistic because BYD had developed some innovative technologies in order to be able to bring more new products to the market.
New premium brand
Fittingly, the Shenzhen-based electric car maker unveiled the name of its high-end car brand, to be called Yangwang in the future, in early November. Yangwang can be translated as “looking up”. The vehicles, which are set to become the benchmark for Chinese high-end brands in terms of technology and design, will probably be priced between 800,000 and 1.5 million yuan (around 110,800 to 207,750 euros), “Der Aktionär” reported. With such expensive vehicles, the manufacturers can usually earn higher margins.
According to “IT Times”, the first Yangwang vehicle will be an off-road vehicle that can be offered for over one million yuan (around 138,500 euros). Production will start as early as the first quarter of 2023, it said.
subsidiary established
To advance the project, BYD acquired Shenzhen Yangwang Automobile Sales Co. Ltd. on November 7, 2022. was founded, which focuses on the sale of new energy vehicles as well as PHEV engines and e-car charging stations. Thanks to its own sales and service network, the new subsidiary will be able to operate independently on the market.
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