BYD aspires to take on Ferrari, Lamborghini as the world’s largest EV maker goes upmarket with its US$233,000 Yangwang U9 supercar
- The Warren Buffett-backed carmaker is accepting bookings for the 1.68 million yuan (US$233,400) supercar with a deposit of 300,000 yuan
- BYD launched the Yangwang luxury brand, which means ‘looking up’ or ‘admire’ in Mandarin in January 2023, starting with the U8 SUV
BYD, the world’s largest electric-vehicle (EV) maker, has started taking orders for the Yangwang U9, pricing the all-electric supercar at 1.68 million yuan (US$233,400), as it tries to lure rich Chinese consumers away from high-end foreign carmakers such as Ferrari and Lamborghini.
The U9, which can reach a top speed of 309 kilometres per hour, is expected to be delivered to buyers in the middle of 2024, helping the Shenzhen-based company, better known for making mass-model EVs, to showcase its design and manufacturing heft.
“Yangwang U9 will enable you to taste the excitement when you drive it on racing tracks or on city streets,” BYD said on the microblogging site. “It marks the beginning of a new era when fully electric supercars become a choice [for customers].”
A comparable model like the petrol-powered Ferrari Roma is priced at 2.76 million yuan, while a Lamborghini Huracan sells for 2.54 million yuan, 64 per cent and 51 per cent higher than the U9, respectively.