BYD reveals R4.5-million Yangwang U9 supercar to rival Lamborghini

On Sunday, BYD unveiled its latest high-performance electric car, the Yangwang U9, marking its entry into the luxury electric vehicle market with a price tag of US$233,450 (approximately R4.5 million). This fully electric supercar is positioned to compete with traditional petrol-powered options from luxury brands like Ferrari and Lamborghini.

Initially targeted at the Chinese market, the Yangwang U9 was showcased at a live-streamed event in Shanghai. Boasting impressive acceleration, the car can reach 100km/h in just 2.36 seconds and achieve a top speed of 309km/h.

BYD, which surpassed Tesla as the world’s largest electric vehicle seller in the last quarter of 2023, is traditionally recognized for producing affordable electric vehicles. However, the company also ventures into the luxury segment with its Yangwang and Fang Cheng Bao brands.

With a post-Lunar New Year price war anticipated in the Chinese market, BYD is banking on the continued demand for high-end electric vehicles that offer superior profit margins. The Shenzhen-based company plans to release other expensive electric vehicles under the Yangwang brand later this year, including a luxury sedan priced at around one million yuan.

While BYD started delivering vehicles in late November, it currently has one production model, the U8, a luxury sports utility vehicle priced at C¥1.1 million. By the end of January, the company had successfully delivered 3,653 units of its vehicles.