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Electric cars in China

China's BYD enters luxury EV market with SUV priced up to $200,000

Carmaker looks to tap growing class of wealthy Chinese consumers

BYD hopes to widen its customer base with a new luxury EV line.   © Reuters

SHANGHAI -- Chinese electric vehicle giant BYD will launch its new luxury brand Yangwang in the January-March quarter of next year, looking to expand beyond its base of mass-market vehicles.

At a media event in Shanghai on Thursday, the automaker said the first model released under the new brand will be an off-road SUV, priced at 800,000 to 1.5 million yuan ($115,000-$216,000).

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