BYD unveils supercar to rival Ferrari, Lamborghini

Fast and sleek: The Yangwang U9 EV in Shenzhen, China. The company became the biggest EV seller globally, overaking Tesla in the last quarter of 2023. — Bloomberg

HONG KONG: BYD Co has debuted its most expensive car, a 1.68 million yuan (US$233,450) high-performance fully-electric supercar pitted against gas-guzzling options offered by rivals such as Ferrari NV and Lamborghini.

The Yangwang U9 will initially be for the China market, the company said at a live-streamed event in Shanghai.

The car can hit 100 km/h in 2.36 seconds and reach a top speed of 309.19 km/h, it said.

BYD became the biggest electric vehicle (EV) seller globally, overtaking Tesla in the last quarter of 2023. While it is better known for making affordable EVs, the company markets its luxury models under the Yangwang and Fang Cheng Bao brands.

With a post-Lunar New Year price war looming in China, the Shenzhen-based giant is betting there remains a market for high-end products which deliver better margins.

Other pricey EVs under the Yangwang brand are due to launch later this year in China including a luxury sedan that will cost around one million yuan.

Yangwang started delivering cars in late November. It has one production model so far, a luxury sports utility vehicle known as the U8 which costs 1.1 million yuan.

The company has delivered 3,653 units as of the end of January. — Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!


Next In Business News

MIDF boosts security after cyber Incident
Gas Malaysia distribution adjusts tariff down
RHB IB expects 4.2% y-o-y for 1Q GDP print
Miti closely monitoring situation in Middle East for possible escalation in conflict
Ringgit continues to appreciate vs USD at close
Fajarbaru wins RM13.33mil contract from Malaysia Airports
Fitters Diversified bags RM26.1mil subcontract from IJM Construction
CIMB Thai 1Q net profit dips 24.6% to 626.1 million baht
Maxis ready to build another 5G network, fully supports govt 5G delivery model
Iconic Worldwide raises RM95.6mil in oversubscribed rights issue

Others Also Read