BYD to announce premium sub-brand this year, first model arrives in 2023

According to a local Chinese media, BYD is looking to expand with a new premium brand for electric vehicles. The initial idea was to offer vehicles priced between CNY 800,000 and 1.5 million but the final decision is to price all vehicles above CNY 1 million.

BYD already has the Dynasty and Ocean series along with the Denza brand, the latter a joint venture with Mercedes-Benz. However, the new premium sub-brand will have its own operations, service network, separate teams for products and sales.

Allegedly the company's first EV

Earlier this month, spy shots appeared showing off what appears to be an offroad EV. All of the brand's models will feature the latest and greatest BYD has to offer in terms of hardware, automotive features and self-driving capabilities.

BYD will likely announce the new brand by the end of this year along with a logo and maybe reveal its first vehicle. Which, in turn, will be released in the first quarter of 2023. As of now, unofficial report claims that the name of the brand will likely be "Xingkong", which means "Sky".

Source (in Chinese) | Via