BYD to launch another luxury EV brand

BYD held an event in China today to celebrate its 3 millionth EV rolling off the production line. The firm's CEO took the chance to announce plans for yet another premium EV brand. The name is still undisclosed, though.

The focus of the new brand will be on personalization. According to BYD, there's a growing market for consumers that want deeper and more personal customization of their vehicles. The company's president says that the new company will be working closely with car dealers and customers to build its vehicles.

It's important to note that this is actually the second premium brand BYD is announcing. Yangwang was announced just over a week ago and it's also going to be competing in the premium EV segment with the first Yangwang-branded cars rolling out sometime in 2023. As for BYD, it will continue to appeal to the mass market with its Ocean and Dynasty EV lineups.

Via