Yangwang will have separate sales channels from BYD and is in the process of building its first stores in 16 cities, and they are expected to start trial operations gradually in August.
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The Premium Edition of Yangwang's first model, the U8, is expected to be officially launched in August, and the final price will be announced at that time, the BYD-owned premium brand said today.
Deliveries of the Yangwang U8 Premium Edition are expected to begin in September, it said.
Yangwang began pre-sales of the U8 on the first day of the Shanghai auto show on April 18, saying at the time that the model would be offered in two versions -- a Premium Edition and an Off-road Master Edition.
Both versions of the Yangwang U8 have the same pre-sale price of 1,098,000 yuan ($153,400), with the difference being that the former has more features and the latter has more room for modifications.
For BYD, its pattern for launching a new model is to start pre-sales first and offer a lower price when it finally goes on sale.
Yangwang will not use BYD's sales channels and will build its own showrooms, it said in a post posted today on its social media platforms.
Yangwang is currently building its first stores in 16 cities, including Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou and Chengdu, and they are expected to start trial operations gradually in August.
Yangwang uses an online booking model, where consumers can book through channels including the brand's mobile app and get delivery at offline stores.
Buyers of the Yangwang U8 Premium Edition will not have to pay a luxury car tax, as the tax is only available in China for models with a retail price of RMB 1.3 million or more, Yangwang said.
For the Yangwang U8 Off-road Master Edition, whether consumers will have to pay the luxury tax will be subject to their additional options.
The Yangwang U8 is currently only available in a five-seat version, and its interior is expected to be officially revealed in July.
On January 5, BYD officially launched the Yangwang brand and unveiled the Yangwang U8 and Yangwang U9, both of which will be equipped with BYD's e⁴ technology.
e⁴ is China's first mass-produced quad-motor independent drive technology platform, able to achieve precise control of vehicle four-wheel dynamics by virtue of quad-motor independent vector control technology, BYD said at the time.
The Yangwang U8 has a maximum output of over 1,100 horsepower, takes 3.6 seconds to accelerate from 0 to 100 kilometers per hour and has a CLTC pure electric range of 180 kilometers, the brand previously said.
The Yangwang U9 is not yet available for pre-order, and its official launch date is unknown.
($1 = RMB 7.1577)
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