BYD Will Launch Second EV Brand in 2023, Says its Exec

The dawn of electrification has garnered new opportunities for small auto-manufacturing countries to take on the ‘big guys’. China, for one, has claimed the crown from the US to be the world’s largest automobile producer back in 2009. Thanks to the current EV boom, the gap between the top-two countries is getting bigger.

Aside from being the epicentre of auto-manufacturing, China also houses multiple EV brands, be it from small, obscure EV start-up, to well-established and renowned automakers such as BYD.

Having recently hit the 3-million mark for the total new energy vehicles (NEV) production, BYD is poised to expand its range by launching a second EV sub-brand with emphasis on building “professional and personal” EVs, later in 2023.

Speaking to Reuters at BYD’s media event in Shanghai, China, BYD’s assistant general manager Brian Luo said this new EV brand will be the firm’s second sub-brand after Yangwang – BYD’s premium marque to be launched in Q1 2023.

No longer producing pure-combustion vehicles since earlier this year, BYD has been capitalising on EV incentives granted by the People’s Republic government, and this new EV brand will further entrench the brand’s capitalisation on said incentives. Aside from EVs, BYD also produces plug-in hybrids (PHEV), as part of its NEV-only fleets.

As a result, BYD is currently the top-selling car brand in China for Nov this year, overtaking automotive giants like Volkswagen in the process.

BYD has also been pushing for a wider global expansion, with the Chinese marque now selling its vehicles in 35 countries worldwide, including Australia, Brazil, Costa Rica, Colombia, Norway, New Zealand, and recently, Malaysia.

Following-up to its Malaysian debut, BYD also planned to invest around RM500 million to build a network of showrooms and service centres across the country, with the country’s first-ever BYD showroom to be open in Kuala Lumpur this mid-Dec 2022, located at TREC KL along Jalan Tun Razak. Three more showrooms will be open by the first half of 2023, each located at Ara Damansara, Penang and Johor.

BYD, under its local distributor Sime Darby Beyond Auto (SDBA), recently launched the Atto 3 all-electric SUV crossover. Set to be one of Malaysia’s most affordable EVs, the Atto 3 is priced from RM 149,800 for the Standard Range variant and up to RM 167,800 for the up-specced Extended Range.