Cars | A Chinese company is challenging Tesla as the king of electric cars – it is bringing a luxury electric car to the market

Chinese car manufacturer BYD plans to introduce a completely new premium class electric car brand.

The company said on Tuesday that it will release a new electric car collection in the first quarter of 2023.

BYD is China’s largest electric car manufacturer, selling 326,000 electric cars in the first half of this year. Worldwide, only Tesla was ahead of it in electric car sales, and including plug-in hybrids, BYD was the largest manufacturer of plug-in cars with 640,000 cars.

In the spring, the company announced that it had completely stopped manufacturing traditional combustion engine cars and would focus only on rechargeable vehicles. According to its own announcement, the company has sold 1.4 million electric cars by the end of October this year.

The Chinese company’s car collection is remarkably extensive, as five BYD models entered the list of the world’s ten best-selling rechargeable car models in the first half of the year.

Car companies in comparison, BYD is the world’s third most valuable car manufacturer after Tesla and Toyota, in which it has invested, for example Warren Buffett Berkshire Hathaway company.

BYD is currently bringing its electric cars to the market in Sweden and Germany and later in the Netherlands. The company’s electric cars have been sold in Norway since last year.

Currently, BYD’s passenger car models are not imported to Finland, but the company’s electric buses are in traffic in the capital region and Turku. In addition, the electric van eTP3 is available in Finland.

So far, the company has given little information about its new premium car collection. The price level of the cars is said to start at one million yuan (about 138,000 euros), which would put the Chinese cars in the same price range as Audi, Porsche and Tesla’s upper premium electric cars.