Selina Cheng of The Wall Street Journal tells her readers that the Chinese automaker BYD is expanding its electric vehicle lineup to more than 20 models in its push overseas and to outmaneuver Telsa. Cheng writes:
HONG KONG overtook as the world’s top electric-vehicle seller by pumping out a range of affordable cars that gave Chinese drivers what they wanted: choice.
Now it is moving into the luxury market as it prepares to take on the world.
BYD is releasing the cars under a different brand, Yangwang, marking a strategy shift from relying on lower-priced runarounds to producing less conventional vehicles that come with a hefty price tag. They include a $150,000 supercar that resembles a Lamborghini and an SUV that it says can rotate 360 degrees on the spot and float in water—features that turn heads in China’s cutthroat car market where buyers chase the latest smart technology. […]
Introducing Our New Brand #YangWang
Our Supercar the #U9 & Off-Road SUV #U8 #BYD #BuildYourDreams pic.twitter.com/8oYX2Pp43H
— BYD (@BYDCompany) January 6, 2023
BYD is following the footsteps of companies such as General Motors, Ford, and Volkswagen with its family of different car brands, analysts say.
“There’s no global automaker that just sells one brand, outside of Tesla,” said Le, the consultant.
Read more here.
