BYD’s premium brand, Fang Cheng Bao, debuted its first sedan models and the Formula X supercar at the 2026 Beijing Auto Show. The automaker also opened pre-sales for the Great Tang EV. In Australia, BYD launched the Seal 6 plug-in hybrid sedan and wagon to continue its global expansion.
These product launches coincide with an intensifying electric vehicle price war in China. Average vehicle discounts reached a record 10% in March. This pricing pressure contributed to BYD’s first annual profit decline since the pandemic.
CEO Wang Chuan-Fu described the current competitive environment as a brutal knockout stage. The company faces severe pressure on margins while fighting to maintain market share against numerous rivals.