China's largest EV maker BYD launches a new premium brand to target luxury SUV m...

China's largest EV maker BYD launches a new premium brand to target luxury SUV marketBYD

China's largest EV maker BYD launches a new premium brand to target luxury SUV market

Aron Chen

posted on 11 hours ago

The vehicles falling under the brand are expected to be priced between 400,000 yuan (US$54,809) and 600,000 yuan

BYD, China’s largest electric vehicle maker, has launched a new premium brand- Fang Cheng Bao- at a glitzy even in Shenzhen, stepping up its push into the luxury SUV sector.

The new Fang Cheng Bao brand will offer electric off-road capable sport-utility vehicles (SUVs) and sports cars, aiming to not only meet drivers' transportation needs but also cater to their need to display their status and individualism, according to Wang Chuanfu, founder and chairman of Shenzhen-based BYD.

The vehicles falling under the brand will be adopting BYD's latest plug-in hybrid platform, referred to as DMO, signifying "dual-mode off-road". These vehicles will also come equipped with the advanced DiSus-P intelligent body control system.

The BAO 5 SUV or Leopard 5, an off-road SUV based on the DMO platform, will be the brand’s first production model, and will be debuted at the Chengdu Motor Show starting from August 25.

The SUV is expected to be priced between 400,000 yuan (US$54,809) and 600,000 yuan.

As a new brand, Fangcheng Bao adopts an independent sales channel that will cover 60 cities including first-tier and second-tier cities.

Chinese business data provider Tianyancha reveals that BYD has recently been actively establishing "Fangcheng Leopard" sales companies across the country, paving the way for the product's launch.

With the launch of Fangcheng Bao, BYD completes the final piece of the puzzle for its product lineup, forming a multi-brand product matrix that covers both the mainstream and high-end luxury markets. Among them, the BYD main brand is positioned for the mass market in the 100,000-to-300,000-yuan range, while Tang and Fangcheng Bao are targeted at the high-end market. The positioning for Yang Wang is in the million-yuan luxury car market.

In June, BYD announced its plans to commence deliveries of the Yangwang U8, a premium vehicle with a price tag of 1.1 million yuan, starting in September. The U8's design draws parallels with the Range Rover, boasting an impressive acceleration from 0 to 100km/h in just 3.6 seconds. Its four-wheel-side motors enable unique features like executing a "tank turn" maneuver and facilitating sideways movement akin to a crab-walk.

Fang Cheng Bao is the fifth brand under BYD’s umbrella, after the Dynasty series, Ocean series, Denza, and YangWang.

Fang Cheng literally translates as formula in Chinese, and Bao means leopard.

According to BYD, the name represents the pursuit of the transformative rise and the exploration of digital realms, as well as the blending of Formula 1 standards and rules with the agility and wild versatility of the Leopard, bringing out the distinctive essence of the brand and BYD's vision of future automobiles and lifestyles.

According to data from the China Association of Automobile Manufacturers (CAAM), BYD's cumulative sales for the first seven months of this year reached 1.517 million vehicles, a year-on-year increase of 88.9%, accounting for 33.5% of the entire new energy vehicle market share.