BYD Launches Luxury EV Line in Challenge to High-End Foreign Brands

Chinese carmaker BYD Co. Ltd. has unveiled its first luxury brand of electric vehicles (EV), joining its peers in efforts to impress wealthy domestic buyers who have long preferred foreign brands like BMW and Mercedes-Benz.

The launch marks BYD’s latest step into the high-end auto market as it tries to outgrow its image as a manufacturer of mid- to low-end vehicles.