BYD is the biggest carmaker in China, and it has big ambitions in the EV segment, not least by establishing a global presence. The latest move is the launch of the new Yangwang premium brand in the first quarter of next year.
BYD has ballooned its operations and extended outside China in Europe and North America, but its ambitions are far greater than that. The company that ditched the gasoline vehicles from its lineup has tripled its sales in the first ten months of the year to 1.4 million units. Most are plug-in hybrid cars, but electric vehicles also make a significant chunk of the mix. The Chinese carmaker wants to extend its grip on the EV market by launching a premium brand.
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