Proactive Investors - Chinese Tesla rival BYD (SZ:002594) has unveiled a high-performance electric supercar to rival fossil fuel-chewing models on offer from the likes of Ferrari (NYSE:RACE) and Bugatti.
Coming with a $230,000 price tag, BYD claims the Yangwang U9 can go from 0-60 miles in 2.36 seconds, making it faster than the Porsche (ETR:P911_p) 911 Turbo S and Lamborghini Revuelto.
Electric vehicles typically have a better torque curve than combustion engines for acceleration.
BYD claims the Yangwang U9 can reach speeds of 192 miles per hour.
“Yangwang U9 will enable you to taste the excitement when you drive it on racing tracks or on city streets,” BYD said on microblogging site Weibo, as reported by the South China Morning Post. “It marks the beginning of a new era when fully electric supercars become a choice [for customers].”
BYD’s Yangwang (translated from Mandarin as ‘inspire’) range of EVs was first launched in January 2023.
Though the U9 is in the high-end of consumer EVs, BYD’s affordable range of vehicles has made it a serious competitor to Tesla’s dominance of the market.
According to BYD’s official figures, the company produced 3.05 million vehicles in 2023 and sold 3.02 million, including both hybrid and battery-only cars.
BYD sold 1.57 million battery-only vehicles over the year, while analysts expect Tesla to report 1.82 million units in the comparable period.