Chinese manufacturer BYD plans to launch its luxury brand Yangwang in Europe in 2024 with an opulent electric SUV.
How far away the days of low-end and, above all, low-priced “Made in China” products seem. If this is still true in certain industries, such as textiles for example, but in the automobile sector, it is largely different. Some even get into luxury cars!
BYD, the Chinese giant of the electric automobile industry, is taking the European market by storm with the announcement of its foray into the high-end segment. The brand revealed its ambitious plan during an official announcement, affirming its intention to launch its luxury brand Yangwang on the European continent as early as 2024. This strategy will be marked by the first presentation of its impressive luxury SUV, the U8, at the Geneva Motor Show, scheduled for the end of February.
The Chinese manufacturer wants to impress
This officialization comes after BYD managed to climb to the top of the global rankings of the electric industry, dethroning the American giant Tesla in the fourth quarter of 2023. This meteoric rise was largely fueled by massive sales in China, but the Chinese manufacturer now intends to expand its footprint and consolidate its presence on the European market. To do this, BYD plans to open a factory in the region in the coming years.
BYD's U8 SUV is undoubtedly the model of all superlatives. With almost 1,200 horsepower under the hood, this monster intends to compete with the biggest names in the sector, such as Land Rover and Mercedes. Equipped with an electric motor in each of its wheels and a gasoline engine to recharge its batteries, the U8 is also distinguished by its ability to float on water, widely relayed on social networks, as well as the possibility of pivot on itself, like the future Mercedes EQG.
The crazy rise of BYD
In addition to the U8, BYD will also present its first plug-in hybrid car designed specifically for the European market, based on its Seal U electric SUV. In addition to its own brand, BYD will also display a new SUV under the Denza brand, the result of its joint venture with Mercedes-Benz. Since its arrival on the European market, BYD has already launched six fully electric modelsincluding the Atto 3 SUV, a direct competitor to the Tesla Model Y, as well as the compact Dolphin and the 7-seater Tang SUV.
With sales totaling several thousand vehicles in 2023, BYD is well positioned to expand its influence and market share in the years to come.
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