BYD, a Chinese startup, hopes Yangwang U9 can compete with Ferrari and Lamborghini
BYD launched an electric supercar capable of reaching 60 miles per hour in less than three seconds. The Chinese startup is aiming to compete with luxury brands like Ferrari and Lamborghini.
Yangwang U9 is a Tesla rival that will be sold in China for 1.68 million Yuan (£184,000). It claims a top speed 192mph.
BYD claims that the car accelerates from zero to one hundred kilometers per hour (62mph), in only 2.36 seconds. It also boasts a 279-mile range.
BYD is trying to compete with Western automakers. It recently surpassed Tesla as the best-selling electric car (EV) maker in the world.
BYD sold 526,000 electric vehicles in the last three months of 2023. This is more than Tesla’s 484,000.
The company sold three million hybrid and battery vehicles in the past year, including its low-cost EVs, like the BYD Dolphin, which are currently on sale throughout Europe.
The Shenzhen based company is also targeting Ferrari, a marque brand that will launch its first electric model in 2025.
Lamborghini isn’t expected to release its first all-electric car until 2028.
BYD’s Yangwang range, which was just released, will also include other premium EV models such as a luxury crossover.
BYD’s electric cars are cheaper than those of its European and US competitors, and this has fueled a price war between manufacturers.
Its supercar is cheaper than Western counterparts such as Ferrari 296 GTB hybrid, which costs £241,000 and Lucid Air Sapphire, which comes in at £197,115.
BYD shares have dropped 12pc this year due to investor concerns about waning demand for electric vehicles.
Tesla has been teasing a new version of its Roadster, which was first released in 2008 and last sold in 2012.
Elon Musk, the founder of Tesla Motors, has stated that his new Roadster EV is capable of reaching 60mph in 1.9 second and a top speed up to 250mph.
The production of the new Roadster is expected to be delayed until 2024.
The price of the car is expected to be in excess of £157,000.