Tesla-beating BYD unveils $233,450 supercar and $14,000 hatchback in same week

BYD Electric Supercar Unveiled

BYD Co. unveiled its most expensive automobile on Sunday, a 1.68 million yuan ($233,450) high-performance fully-electric supercar that competes with gas-guzzling choices from rivals such as Ferrari NV and Lamborghini.

The Yangwang U9 will be initially available in China, the business announced at a live-streamed ceremony in Shanghai. According to the manufacturer, the automobile can accelerate to 100 km/h (62 mph) in 2.36 seconds and reach a top speed of 309.19 km/h.

BYD became the world’s most significant EV sales, surpassing Tesla in the fourth quarter of 2023. While the firm is best known for producing low-cost EVs, it also markets luxury vehicles under the Yangwang and Fang Cheng Bao brands.

With a post-Lunar New Year pricing war brewing in China, the Shenzhen-based company is wagering that there is still a market for high-end products with higher margins.

Other high-end EVs under the Yangwang brand are set to appear in China later this year, including a luxury car priced at over 1 million yuan.

Yangwang began delivering automobiles in late November. So far, it has only one production model, the U8, a luxury sports utility vehicle that costs 1.1 million yuan. The company had delivered 3,653 units as of the end of January.

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