Chinese EV giant BYD Co Ltd BYDDY BYDDF is showcasing its float-capable Yangwang U8 SUV at the Geneva International Motor Show, marking its Europe debut, days after launching its dancing U9 supercar in China.
What Happened: The Yangwang U8 is a plug-in hybrid SUV from BYD’s luxury sub-brand Yangwang. It can float, tank turn, and start at over a million yuan in China.
The SUV is equipped with an intelligent hydraulic body control system, enabling it to tank turn in all terrains. It has 1,200 horsepower and the ability to go from 0-60 mph in 3.6 seconds and further, the ability to remain floating for about 30 minutes. In case of floods, the vehicle will initiate a quick engine shutdown, raise suspension elevation, close windows, and open the sunroof.
The U8 commenced deliveries in China in November and 3,653 have been delivered as of January end, according to a report from Reuters.
“This vehicle could perhaps be brought to certain European markets with limited distribution, but not necessarily exactly in its current form,” BYD’s marketing manager for France Guillaume Calvar told Reuters on Tuesday. “But for the moment, we are … testing its appeal,” he added.
Earlier this week, BYD launched its Yangwang U9 supercar in China and opened pre-orders with a starting price of 1.68 million yuan. The sportscar can dance, jump on all four, or drive with only three wheels.
BYD introduced the Yangwang brand in January 2023.
Why It Matters: In the last quarter of 2023, BYD took over Tesla in battery electric vehicle (BEV) sales by selling 526,000 BEVs, surpassing Tesla’s global delivery count of 485,000. However, unlike Tesla which sells only BEVs, BYD also makes hybrids.
While the Chinese company already sells its EVs in Europe, it has not entered the U.S. market. BYD Executive Vice President Stella Li said in an interview on Monday that the company is not looking to play in the U.S. just yet, citing complications including politics.
During Tesla’s fourth-quarter earnings call in January, company CEO Elon Musk warned against competition from Chinese automakers and said, “Frankly, I think if there are not trade barriers established, they will pretty much demolish most other car companies in the world. So they're extremely good.”
Photo by Philip Lange on Shutterstock
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
