Posted 2/26/2024, 6:55:00 PM
BYD Launches $233K Luxury EV Supercar to Bolster Brand as Chinese Automaker Expands to US, Europe
- BYD unveiled a new $233,000 luxury electric "supercar" despite other automakers focusing on cheaper EVs
- The move is a marketing strategy to establish BYD as a premium brand as it enters the US and Europe
- Halo cars send a message of financial strength even if not hugely profitable themselves
- BYD already has mass market success in China selling millions of cheaper EVs
- Chinese automakers will likely gain market share in Europe and the US but not from domestic brands initially