Chinese carmaker BYD unveils €215,000 electric supercar that reaches speeds of a Ferrari

The Yangwang U9 EV

Chinese automotive maker BYD has unveiled its most expensive vehicle, an electric car costing 1.68 million yuan (€215,000) that can reach the same speeds as a Lamborghini and Ferrari NV.

The U9 supercar will be part of BYD’s luxury brand Yangwang and will initially be for the Chinese market, the company said at a live-streamed event in Shanghai.

BYD said the U9 will be able to reach top speeds of 309.19 km/h and accelerate to 100 km/h within 2.36 seconds.

Despite BYD primarily selling to China, the company wants to expand. In the last quarter of 2023, it became the biggest EV seller globally, overtaking Elon Musk’s Tesla.

The company is better known for its affordable EVs but is set to launch other luxury cars this year, such as Sedan.

Despite BYD primarily selling to China, the company wants to expand. In the last quarter of 2023, it became the biggest EV seller globally, overtaking Elon Musk’s Tesla.

The company is opening its first EV factory in Europe, which will be in Hungary, near the border with Serbia.

However, the European Commission is investigating Chinese competitiveness in the EV market, including BYD.

The EU accuses Chinese car companies of benefiting from state aid to help its EVs undercut European-made vehicles.

But BYD rejected the allegation on Monday.

“Our success is not because of the subsidy, it’s because we have unique technology . . . and our management efficiency is high,” Michael Shu, European president of BYD, told the Financial Times.

“It’s because we invested in this technology much earlier, and much more, than competitors. It’s not because of the subsidy,” he added.