BYD Fang Cheng Bao launches Formula S and S GT

Pricing starts at 189,900 yuan to 229,900 yuan for the Formula S and 219,900 yuan to 239,900 yuan for the Formula S GT, or roughly 736.49 million dong to 930.40 million dong. That puts the cars below many imported performance EVs while still giving BYD another product to defend share in China’s increasingly segmented battery-electric market.

The launch also shows BYD leaning harder into technology differentiation. Both models use the DiSus-M magnetic suspension system, which the company says adjusts damping in milliseconds, and are equipped with LiDAR-based driver-assistance features for highway and urban NOA functions. Inside, the cars feature a 26-inch AR head-up display, Devialet audio and modular cabin hardware that can be reconfigured with accessories.

For investors, the key question is whether BYD can keep expanding volume without sacrificing margin in a market where rivals are chasing the same buyers with faster charging, longer range and more software-heavy cabins. Fang Cheng Bao’s push into high-performance EVs gives BYD another growth lane, but it also deepens competition with Tesla and domestic challengers as China’s carmakers race to win on both price and product specification.

BYD’s U.S.-listed shares have been under pressure in recent months, with technical readings on both BYDDF and BYDDY still below their 200-day moving averages. The stock is also trading near levels that have left momentum indicators soft, while Tesla shares remain well above BYD’s U.S. listings in market value and continue to set the pace for performance EVs globally.

The next catalyst will be whether Fang Cheng Bao can translate the headline specs into real showroom demand and deliveries, and whether BYD uses the launch to reinforce its premium position without worsening the pricing pressure already hanging over China’s EV sector.