BYD is planning to launch an electric supercar this year: Report

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BYD enjoys a healthy presence in the global EV industry, with the company also known for its efficient Blade Battery technology. A new report is now talking about the company’s new goals for 2023, which involves competing more aggressively with fellow EV maker Tesla in the global market.

Setting its sights on an ambitious 2 million EV sales this year, BYD is looking to supercharge its presence in the EV space. As Indian automotive enthusiasts would remember, the company recently launched the Atto 3 electric SUV in India, which is packed to the brim with features.

Also Read: BYD Atto 3 launched in India: Features, price, availability

We’re also learning about BYD’s plans to launch an off-road SUV named Yangwang U8 and the electric supercar, the U9.  The Nikkei report further mentions that BYD is taking this step given the heavy competition in the low-end and mid-range EV segment back home in China.

Tesla is no doubt a big player in China, with the company recently slashing the prices of the Model 3 not too long ago. So it’s not unsurprising that BYD is looking to sell 2 million EVs in the year, particularly across markets in Europe and neighbouring Japan.

BYD founder and chairman Wang Chuanfu was optimistic about the company’s future, saying, “Our dream will come true as a result of research and development efforts over 20 years. We will change the global industrial structure for luxury cars.”

What’s in store for India?

The company didn’t say if India will be part of its expansion plans, but we would be surprised if it weren’t, considering the rapid growth of EVs in the country. Following the release of the Atto 3 recently, we’ve come across reports of BYD unveiling the Seal electric sedan later this year.

The BYD Seal EV

BYD’s Indian wing has also set out an elaborate plan to establish a strong retail presence in the country. The company faces competition from the likes of Kia, and Hyundai, not to mention local EV manufacturers like Tata Motors and Mahindra, to name a few.

Source: Nikkei Asia

Via: Times Now

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