BYD Seeks to Take on Ferrari, Lamborghini With New EV Sportscar

(Bloomberg) — BYD Co. Ltd. debuted its most expensive car on Sunday, a 1.68 million yuan ($233,450) high-performance fully electric supercar pitted against luxury gas-guzzling options offered by rivals such as Ferrari NV and Lamborghini.

The Yangwang U9 will initially be exclusively for the China market, the company said at a livestreamed event in Shanghai. The car can hit 100 kph (62 mph) in 2.36 seconds and reach a top speed of 309.19 kph, it said.