EXPLAINER

Photos: BYD unveils $233,450 EV Supercar to rival Ferrari, Lamborghini

Yangwang U9 can hit 100 km/h in 2.36 seconds and reach a top speed of 309.19 km/h

Last updated: February 26, 2024 | 13:26

Compiled by Nathaniel Lacsina, Senior Web Editor

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BYD Co. debuted its most expensive car, a 1.68 million yuan ($233,450) high-performance fully-electric supercar pitted against gas-guzzling options offered by rivals such as Ferrari NV and Lamborghini.

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The Yangwang U9 will initially be for the China market, the company said at a live-streamed event in Shanghai.

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The car can hit 100 km/h (62 mph) in 2.36 seconds and reach a top speed of 309.19 km/h, it said.

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BYD became the biggest EV seller globally, overtaking Tesla in the last quarter of 2023.

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While it is better known for making affordable EVs, the company markets its luxury models under the Yangwang and Fang Cheng Bao brands.

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With a post-Lunar New Year price war looming in China, the Shenzhen-based giant is betting there remains a market for high-end products which deliver better margins.

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Other pricey EVs under the Yangwang brand are due to launch later this year in China including a luxury sedan that will cost around 1 million yuan.

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Yangwang started delivering cars in late November. It has one production model so far, a luxury sports utility vehicle known as the U8 which costs 1.1 million yuan.

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The company has delivered 3,653 units as of the end of January.

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BYD debuted its most expensive car, a 1.68 million yuan ($233,450) high-performance fully-electric supercar pitted against luxury gas-guzzling options offered by rivals such as Ferrari NV and Lamborghini.

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