As its channels improve, Fang Cheng Bao will probably launch new products every quarter from the fourth quarter onwards, the head of the BYD sub-brand said.
(A Fang Cheng Bao Super 9 supercar on display at the Beijing auto show in April 2024. Image credit: CnEVPost)
BYD's (OTCMKTS: BYDDY) personalized sub-brand, Fang Cheng Bao, will expand its product portfolio with more intensive launches of new models starting next quarter.
As its channels improve, Fang Cheng Bao will probably launch new products every quarter from the fourth quarter onward, according to Fang Cheng Bao general manager Xiong Tianbo.
In terms of the pace of product launches, Fang Cheng Bao has been slightly slow in the past, Xiong said in a recent communication with local media, according to Auto Home.
BYD officially launched the Fang Cheng Bao brand on August 16, 2023, and the brand's first model, the Bao 5 off-road SUV (sport utility vehicle), was launched on November 9, 2023, with deliveries beginning at the end of the same month.
To date, Fang Cheng Bao has only the Bao 5 on sale, with a starting price range of RMB 289,800 ($39,900) to RMB 352,800.
By the end of June, Fang Cheng Bao had delivered a total of 23,995 vehicles, according to data compiled by CnEVPost.
Fang Cheng Bao unveiled the Bao 8 at its spring launch event on April 16, as well as two concept cars, the Super 3 SUV and Super 9 supercar, whose launch dates are yet to be determined.
The new brand began with a direct sales model similar to some other electric vehicle (EV) startups, but has begun recruiting dealers in June to expand its sales network.
In the past year, Fang Cheng Bao has built nearly 200 directly-managed stores, reaching the scale it had initially envisioned, Xiong said in the interview with local media outlets, according to the report in Auto Home today.
Fang Cheng Bao had planned a "2+X" product system, where 2 stands for the off-road vehicle line and the sports car line, and X covers more segments, including city SUVs, according to Xiong.
Fang Cheng Bao will expand its product line to the mainstream market and widen the price range of its products to enter the brand's 2.0 era, said Xiong.
($1 = RMB 7.2587)
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