Spy photos of leading Chinese automaker BYD’s new “F” brand have surfaced recently. The new vehicle is an off-road SUV with a length of nearly 5 meters, a wheelbase of 2.8 meters, and maximum output power exceeding 500 kW. It will be equipped with BYD’s new hybrid power system, instead of an extended-range system, to achieve a cruising range of 1,200 kilometers.
BYD’s “F” brand is positioned between Denza and Yangwang. In the future, the brand will cover many market segments, such as sports cars, off-road SUVs and coupes, all priced between 400,000 yuan ($57,360) and 600,000 yuan. The vehicles will begin pre-sales this year.
By launching the Yangwang brand, BYD has shifted the perception of it being a brand for consumers with tight budgets to a luxury vehicle brand. The new F brand is hoped to help BYD provide multi-category products to meet diversified needs, and gain a firm foothold in the high-end vehicle market. The company has said several times before that it would have a few different series offerings, such as the Dynasty, Ocean, F, Denza and Yangwang.
BYD will launch a number of brand-new products in 2023, including Seagull, Sealion, Destroyer 07, Yangwang U8, Denza N7 and others.
The official picture of Denza N7 was released on March 6. The N7 has two lidars, a look-around camera, a rear-view camera, an ultrasonic radar, and other advanced features. It is also equipped with 20-inch tires and hidden wipers. The length is about 4800mm to 4900mm, and the wheelbase is about 2900mm.
As for the Seagull model, a BYD dealer revealed that the pre-sale price starts at around 65,800 yuan and the vehicle will be listed on April 18. However, this was later denied by BYD. The company reiterated that the estimated price range of the model is 80,000 yuan to 100,000 yuan, but the specific listing time is still under planning.
BYD, one of the few companies in the Chinese auto market that achieved positive year-on-year growth in January, sold over 150,000 cars, marking a 58.6% increase. Its success continued in February with sales of 193,700 units, up from 88,300 during the same period last year. In contrast to Tesla’s direct price reduction strategy, BYD has opted to reduce prices in disguise. The company’s best-selling model, the Qin PLUS DM-i, received an upgrade in February with the launch of the 2023 champion edition. The updated version boasts enhanced features while simultaneously dropping in price by 12,000 yuan to 18,000 yuan.