On the evening of November 8, Chinese automaker BYD unveiled a new high-end vehicle brand called Yangwang, with model prices falling in the million-yuan range, sparking fervent discussion in China. Three days later, several automobile patents applied for by BYD were made public, revealing the possible design of these future premium off-road vehicles.
It can be seen from one patent drawing that the car’s logo in the front adopts a vertical rectangular design. It seems that this part is equipped with many light beads, with split lights and auxiliary driving cameras on the side fender.
As for the rear design, the overall shape of the vehicle looks very hardcore, and it is positioned as a professional cross-country vehicle. The tailgate is also hung with a big spare tire. The car body is narrow at the top and wide at the bottom. The visual effect is quite impressive.
Of course, these are only patent drawings, and the appearance of the real car is not guaranteed to be consistent with them. Previously, some media outlets reported spy photos suspected to show a Yangwang model. Given the appearance, the camouflaged car is similar to a Mercedes-Benz G-Class model, and the side and rear parts are similar to the Land Rover Defender. The Mercedes-Benz G-Class is a luxury car with a price of about 2 million yuan, while the Land Rover Defender sells for about 1 million yuan in China.
According to Chinese media outlet Lengjing, the new brand will be launched in the first quarter of next year, when the first hard-drive cross-country model will be unveiled simultaneously, and the brand products are expected to sell for 800,000-1,500,00 yuan. On November 7, BYD also set up an independent sales company, which is responsible for the sales of vehicles and accessories of the Yangwang brand. As early as May 22, Li Yunfei, the general manager of BYD Auto Brand and Public Relations Division, said on Chinese social media platform that BYD’s high-end brand will operate independently in terms of products, sales services and operations.
BYD has gained a firm foothold in the low-end market. By launching high-end luxury models, it can effectively improve the company’s revenue quality. Since the beginning of this year, the company’s cumulative sales of new energy vehicles have reached 1,397,900 units, with a year-on-year increase of 233.92%, surpassing Tesla to become the global sales champion of new energy vehicles. However, in the first half of the year, BYD’s single vehicle profit was only 4,500 yuan, which was far from that of Porsche, a high-end luxury brand owned by Volkswagen AG, which was as high as 23,900 euros.
On the other hand, in the high-end luxury field that Chinese car companies have never succeeded in, BYD will enjoy a good brand premium if it can successfully become a game changer. Cui Dongshu, the secretary-general of the China Passenger Car Association, said that “the creation of high-end brands means stronger development opportunities and brand promotion, and it is also an inevitable trend in the development of new energy vehicles in the future.”