By LIU Jiaxin
Chinese automaker BYD goes from strength to strength. A new EV production base and a supply chain in Northwest China’s Shaanxi Province, the largest of its kind, is going out all out to meet more than 30,000 orders for the new Yangwang U8, BYD’s luxurious SUV.
Slick videos of the Yangwang U8 executing 360-degree tank turns, accelerating on ice and skimming across shimmering lakes have captured the imagination of China’s off-roaders, real and wannabe alike.
Two weeks ago, Yangwang opened a showroom at the Bund in Shanghai, the city’s most opulent commercial area, directly across the Huangpu River from the Oriental Pearl Tower.
The showroom became an instant tourism spot. When Jiemian News visited, a saleswoman said apart from the crowds of tourists wandering in, each of the sales staff handles at least 20 serious clients a day. She said that they had been busy with orders from the very beginning. at the Shanghai Auto Show on April 18.
Priced from 1.1 million yuan (US$150,000), the first Yangwang U8 will be delivered later this month.
The Shaanxi factory is BYD’s biggest production base in China with an annual output exceeding 900,000 vehicles. Many of BYD’s most popular models, the Song PLUS, Qin 07, and Dolphin, all originate there.
Against the tide, BYD did well last year, selling 1.9 million vehicles at a net profit of 17 billion yuan, more than the previous five years combined. Revenue grew 96.2 percent to 424 billion yuan.
However, the ambitious automaker may fall short of its plan to sell 3 million cars this year. Sales in the first three quarters were just over 2 million.
