BYD's premium brand for the Chinese market, Yangwang, has just opened 22 stores in 21 cities across the country, all in one fell swoop. This is only the first batch of store openings - Yangwang plans to have more than 90 in total, in more than 40 cities by the end of the year.
The stores are directly managed by the brand, these aren't dealer-operated venues. Yangwang is all-in with the direct-to-customer sales model, unlike BYD itself which uses dealers in China. The stores opening today are located in Shanghai, Shenzhen, Chengdu, Hangzhou, Suzhou, and Qingdao.
There are two types of Yangwang stores: "showroom stores", which will be in urban centers and shopping districts, providing sales and product experience services, and "center stores", which will have more functions, including delivery and after-sales - we assume these will be less centrally located, despite the name.
The Yangwang brand was launched back in January, and its first car came along in September - the Yangwang U8. This is the most expensive car BYD has ever made, starting at CNY 1,098,000, which currently translates into about $150,000.