Automaker BYD (BYDDY, 1211.HK) is launching its electric luxury supercar, the Yangwang U9, at an astonishing price of $150,000. The company has surpassed Tesla (TSLA) to become the largest EV maker in terms of total sales, and is expected to maintain its global dominance going forward.
Yahoo Finance reporter Pras Subramanian joins the live show to break down the company's latest developments and what they mean going forward.
For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino
video transcript
[AUDIO LOGO]
Akiko Fujita: So is there a $150,000 electric supercar on the market? Well, BYD's new car might be right for you. Released under the Yangwang brand, the U9 will hit the market this year. Yahoo Finance's Pras Subramanian breaks this down for you. Of course, BYD has surpassed Tesla to become the largest EV maker in terms of sales. It was at the bottom. Talk about your strategy to compete at the high end.
Pras Subramanian: Yeah. In other words, BYD overtook Tesla in the fourth quarter based on the overall EV sales metric. But yeah, Yangwang U9, I think of Yangwang as something like BYD's Lexus. BYD is the Toyota that is there, the premium luxury brand that is there. The U9 was there, it looked like a Lamborghini, it was a sports car, it was a super sports car. But the car also has 1,000 horsepower, so it's no slouch. And like you said, it only costs $150,000. There are several other electric EV supercars, including the Lotus Evija and the Rimac Nevera. But they're millions each. This car is actually a relative deal here.
As you know, we have yet to see Lamborghini or Ferrari launch a fully electric supercar. Therefore, his BYD under the Yangwang brand will launch it now. And for fun, all fun aside, this U9 is basically his BYD halo car. As you said, as you said, as you said, it's outpacing and outpacing Tesla in total global EV sales.
Rachel Akuffo: If they were to enter the US market at some point, it would be a big deal. It is wonderful.
Pras Subramanian: I'm waiting.
Rachel Akuffo: thank you You're always going to break down – you know that, right? Because here we have not only cheap ones, but also some of these amazing supercars.
Pras Subramanian: That means the 911 costs $150,000. It's pretty, I mean, you can see that it's going to do really well here once that car actually goes on sale.
Rachel Akuffo: Oh well, let's see. Thanks to our very own car enthusiast, Pras Subramanian. thanks so much.
Pras Subramanian: thank you.
