BYD to launch new EV brand

Chinese automaker, BYD (OTC: BYDDY) announced today that the company will be launching a new "professional and personal" electric car brand in 2023. Brian Luo, the company's branding assistant general manager, made the comments at a media event. The new brand will be an addition to Yangwang, a premium brand set for launch in the first quarter of 2023 that it announced last month.

The company switched completely from gasoline to electric and hybrid vehicles this year and has been able to capitalize on a range of incentives for electric cars offered by the central and local governments.

BYD has also been able to make a global push to sell their vehicles in markets including Norway, New Zealand, Singapore, Brazil, Costa Rica, and Colombia. According to Lou, the automaker has sold cars to 35 countries outside China since it started exporting to Norway last May.

By Michael Elkins | [email protected]

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