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China’s Premium Electric Car Market Just Got a Little More Crowded

By Ding Yi / Dec 21, 2020 05:08 PM / Business & Tech

Photo: VCG

Photo: VCG

Voyah, a premium electric vehicle brand launched by China’s state-owned carmaker Dongfeng Motor in July, announced on Friday that it has begun accepting pre-orders for its first mass-produced model. The news means Voyah now joins the ranks of automakers such as Tesla and Nio in tapping into the country’s high-end new energy vehicle market.

The sports utility vehicle, named the Free, will be sold for up to 400,000 yuan ($61,000), possibly losing access to Chinese government subsidies which only apply to new energy vehicles costing less than 300,000 yuan.

In November, the pre-production version of the Free electric car rolled off the production line, with plans to start deliveries in the third quarter of 2021. The vehicle is available in two powertrain options – the full electric version and the range-extended version. Some industry experts have suggested that the range-extended version will appeal more to consumers in areas of the country with a low number of charging facilities.

The Friday announcement marks Dongfeng’s ambition to push into the premium electric vehicle segment at a time when a number of domestic conventional carmakers such as Geely and BAIC BJEV have launched their standalone high-end new energy vehicle brands in competition with Tesla.

Last month, another domestic state-owned carmaker Changan Automobile also announced plans to work with Huawei and Tesla battery supplier Contemporary Amperex Technology (CATL) to create an upscale brand that will encompass an intelligent electric vehicle platform and a series of smart car-related products.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Carmaker Changan Joins Hands with Huawei, CATL to Create Premium Smart Car Brand


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