China’s BYD to launch new premium electric car brand in 2023

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SHANGHAI — Chinese electric vehicle giant BYD said on Tuesday that it would launch a new premium brand in the first quarter of 2023.

BYD said the products under the new brand will be priced above 1 million yuan ($138,096.75), without further elaboration. ($1 = 7.2413 Chinese yuan renminbi) (Reporting by Zhuzhu Cui, Zhang Yan and Brenda Goh in Shanghai; Editing by Christian Schmollinger)