SHANGHAI (Reuters) - BYD (SZ:002594) has unveiled three new models, including two concept cars, under its premium brand Fangchengbao as the Chinese electric vehicle giant ramps up efforts to sell into higher-priced segments.
The Bao 8 SUV, Super 3 concept crossover and Super 9 concept sports car made their debut at a live-streamed event on Tuesday night. The company will showcase them at the Beijing auto show, which starts late next week.
BYD did not announce prices or when the cars would be available.
Most of the Fangchengbao lineup features a plug-in hybrid system called Dual Mode Off-Road (DMO) that BYD developed for improving off-road driving experiences with better fuel economy and high horsepower, its chief scientist, Lian Yubo, said at the event.
Toyota (NYSE:TM)'s Land Cruiser, Stellantis (NYSE:STLA)' Jeep and Tata Motors (NYSE:TTM)' Jaguar Land Rover have been the leading players in the off-road vehicle segment that BYD is challenging with its electric vehicles.
BYD also touted a stylish design for the Super 9 sports car, with work led by its head designer, Wolfgang Josef Egger, who has worked at European luxury car brands such as Alfa Romeo, Audi and Lamborghini.
BYD launched Fangchengbao late last year as one of three brands for upmarket vehicles. The other two brands are Denza and Yangwang.
It also launched a hybrid SUV and a sports car under the Yangwang brand that sells above 1 million yuan ($138,132.99).
BYD said it had delivered nearly 20,000 units of Bao 5, the first model of the Fangchengbao brand, since the plug-in hybrid SUV, priced from 289,900 yuan, started delivery in November.
($1 = 7.2394 Chinese yuan renminbi)