BYD has debuted Sunday's most expensive car was a US$233.45 million (R4.5 million) high-performance all-electric supercar, which competed with gas-guzzling options offered by rivals such as Ferrari and Lamborghini.
The company said during a live streaming event in Shanghai that the Yangwang U9 will initially be aimed at the Chinese market. The car will reach 100 km/h in 2.36 seconds and reach a top speed of 309 km/h.
BYD overtook Tesla in the last quarter of 2023 to become the world's largest EV seller. Although the company is well known for manufacturing affordable EVs, the company also sells luxury models under the Yangwang and Fang Cheng Bao brands.
With a post-New Year price war looming in China, the Shenzhen-based giant is betting that there will remain a market for higher-margin products.
Other expensive EVs under the Yangwang brand are expected to go on sale in China later this year, including a luxury sedan priced at about 1 million yuan.
Read: Lamborghini to spend billions on electrifying its supercars
Yanwan began deliveries in late November. So far, there is only one production model, a luxury sport utility vehicle known as the U8, priced at C$1.1 million. The company had delivered 3,653 units as of the end of January. — Danny Lee, Ocean Hou (c) 2024 Bloomberg LP
