Reuters
China’s BYD to launch new premium electric car brand in 2023
SHANGHAI (Reuters) -Chinese electric vehicle giant BYD said on Tuesday it would launch a new premium brand in the first quarter of 2023 under the name Yangwang, with its first model slated to be an off-road vehicle. Vehicles produced under the new brand will be priced at between 800,000 and 1.5 million yuan ($110,287-$206,763), BYD added. Having ditched gasoline vehicles from its product mix this year, BYD has been able to capitalise on a range of incentives for electric cars offered by the Chinese central government and local governments.