As of mid-December, Fang Cheng Bao had 120 directly-managed stores in 62 cities in China.
(Image credit: CnEVPost)
BYD's (OTCMKTS: BYDDY) personalized sub-brand Fang Cheng Bao expects to have more than 150 directly-managed stores in more than 80 cities by the end of the year, the new energy vehicle (NEV) maker said.
BYD cited the figure in an investor conference note, saying that as of mid-December, Fang Cheng Bao had 120 stores in 62 cities in China.
To ensure consistency in customer service quality and experience, Fang Cheng Bao's first stores are directly managed, including sales and service centers, mini sales and service centers and retail centers, BYD said in the investor communication.
BYD officially unveiled the Fang Cheng Bao brand and a technology platform called DMO on August 16, and gave the off-road SUV Bao 5 its official debut.
On November 9, the Bao 5 was officially launched in China, offering three versions with starting prices of RMB 289,800 ($40,590), RMB 309,800 and RMB 352,800 respectively.
On November 13, Fang Cheng Bao said the Bao 5 received 10,623 firm orders in the first 72 hours of its launch.
Fang Cheng Bao announced on November 23 that it delivered the first Bao 5 vehicles.
The brand aims to bring a professional and personalized car experience to users around the world and work with them to open up a bigger change in NEVs, making cars personalized and exclusive to everyone, BYD said in the communication with investors, according to the minutes of the meeting.
The DMO platform integrates the blade battery and high-strength steel frame, realizing the CTC (cell to chassis) battery-chassis integration technology, BYD said.
The blade battery is both an energy body and a structural component that ensures battery safety in extreme off-road scenarios, bringing additional vehicle safety enhancements, BYD said.
BYD sold 301,903 NEVs in November, including 301,378 passenger cars and 525 commercial vehicles, according to figures it announced on December 1.
Fang Cheng Bao sold 626 vehicles in November, BYD said earlier this month.
($1 = RMB 7.1407)
