The new brand's official name could be Fangchengbao, with the first model expected to compete with the Mercedes-Benz G-Class.
(Image credit: Fangchengbao)
BYD (OTCMKTS: BYDDY) is starting to warm up its new brand, internally codenamed F brand, with its official launch set for later this month.
BYD's professional, personalized brand coming soon, the new energy vehicle (NEV) giant said on Weibo today.
"The door to F is now open," BYD said, suggesting that the new brand is the F brand.
At the same time, a Weibo account called "Fangchengbao" (literally, Formula Leopard) was registered and verified today.
Fangchengbao may be the official name of the F brand, as the background image of its profile is similar in style to the video accompanying BYD's preview Weibo today.
(Screenshot of BYD Weibo's video.)
BYD registered the Fangchengbao trademark in August last year. Late last month, the name of Shenzhen BYD Auto R&D Co Ltd changed to Shenzhen Fangchengbao Automobile Sales Co Ltd, perhaps paving the way for the brand's launch.
BYD said at an event marking the rollout of the company's 3 millionth NEV on November 16, 2022, that in addition to the Yangwang brand, BYD will launch a highly specialized and personalized new brand in 2023.
The new brand will meet the increasingly personalized needs of consumers, and it will focus on building with users, BYD chairman and president Wang Chuanfu said at the time.
In February, local media reported that the new brand's internal code name would be F brand. BYD subsequently confirmed it.
On March 31, CnEVPost learned that the new brand is expected to officially launch its first model codenamed SF in June to target a market with prices ranging from RMB 400,000 ($56,260) to 600,000.
Xiong Tianbo, former head of BYD's sales research institute, will be the general manager of the F brand's sales division, leading the brand's product planning, channel sales and brand building, a company insider previously told CnEVPost.
CnEVPost obtained several spy photos of the SF model in March and learnt that the first model of the F brand is expected to compete with the Mercedes-Benz G-Class.
($1 = RMB 7.1094)