BYD launches luxury EV line in challenge to BMW, Mercedes-Benz

BYD launches luxury EV line in challenge to BMW, Mercedes-Benz

BYD, China's biggest carmaker by market valuation, is looking to list its chipmaking arm in Shenzhen. © Getty Images

Chinese carmaker BYD Co. Ltd. has unveiled its first luxury brand of electric vehicles (EV), joining its peers in efforts to impress wealthy domestic buyers who have long preferred foreign brands like BMW and Mercedes-Benz.