BYD (HKG: 1211, OTCMKTS: BYDDY) is set to make a groundbreaking move by introducing its ultra-luxury sub-brand, Yangwang, to the European market. This decision comes more than two years after the brand’s successful launch in China, as reported by Autocar today.
According to BYD executive vice president Stella Li, the company’s strategy involves bringing Yangwang to Europe following the early next year launch of the Denza brand. The initial models to hit the European market will be the U8 off-road SUV and the U9 electric supercar, with plans for additional models in the pipeline, including the U7 sedan.
Described as a brand that rivals Bentley, the introduction of Yangwang into Europe positions BYD as the first Chinese automaker to penetrate the top luxury car market in the region. However, the pricing strategy for Yangwang cars compared to competitors like Bentley Bentayga and Ferrari 296 remains uncertain.
The cost implications of converting the Yangwang models to right-hand drive and navigating the 17 percent tariff on BYD’s electric vehicles in Europe are expected to impact the selling price significantly. This factor could result in a higher price tag for Yangwang cars in Europe compared to their Chinese counterparts.
Yangwang was officially launched on January 5, 2023, targeting the high-end market with prices in the RMB 1 million ($139,370) range. The brand debuted its first model, the U8, in China on September 20, 2023, followed by the U9 electric supercar’s launch on February 25, 2024. The U7 electric sedan joined the lineup on March 27 this year.
Equipped with BYD’s cutting-edge e4 technology, Yangwang’s current models boast four electric motors with over 1,000 horsepower. The brand showcased the U8L, an extended version of the U8, at the Shanghai auto show on April 23 this year.
Despite challenges, Yangwang continues to make strides in the market, with June sales totaling 205 vehicles. The U8, U9, and U7 models saw sales of 64 units, 9 units, and 132 units, respectively, in June alone.
As BYD prepares to break into Europe’s luxury car segment with Yangwang, the brand’s journey promises to redefine the standards of Chinese automakers on the global stage. Stay tuned for more updates on this exciting development.
