According to unofficial media reports from China, BYD is going to launch a new premium electric car brand.
The clc.cn (via CnEVPost and Moneyball) says that the launch is expected in the first quarter of 2023.
In June, BYD's representative hinted at a new high-end model that could be released in the fourth quarter of this year (via Gasgoo), at a price of about 500,000-800,000 CNY (up to $125,000). This model is expected to be produced and sold under a new brand, which might be related to the latest rumor.
Another rumor said earlier this year that a premium brand with "an independent dealer network" (to accommodate premium services) will be launched in 2022.
Well, we don't know whether the rumors are true, but clearly, something is going on at BYD, which since the ramp-up of the Blade Battery is on the rise.
Ambitious sales targets
Separately, the report says that the company has set a target to sell about 600,000 plug-in electric cars this year.
It sounds quite challenging, as the 7-month result is over 200,000 units. The average would have to increase to 80,000 a month for the next five months. The current record level is 50,000 in July (after 40,000 in June).
We are skeptical about 600,000 units, but 450,000-500,000 is possible if the rate would remain at 50,000 a month.
Next year, the target reportedly stands at 1.5 million plug-ins, which would have to bring the monthly average to 125,000. Such a level is extraordinary and would put BYD among the largest automotive groups.
Hopefully, soon we will know more about BYD's new projects on top of the ongoing overhaul of the lineup to new Blade Batteries.