BYD's Premium Sub-Brand Hits Half a Million Sales as the Group's Core Numbers Tell a Different Story
Published on 08/05/2026 at 09:31 | Redaktion boerse-global.de
The timing could hardly be more symbolic. Just as BYD's Fang Cheng Bao sub-brand crossed the 500,000 cumulative sales mark in under three years, the parent company unveiled the Formula S — an electric model that stretches the group's range ambitions to 900 kilometers on China's CLTC standard. The dual announcement underscores how BYD is leaning on its premium offshoots to offset a softening core business at home.
A Flagship With Range to Spare
According to regulatory filings with MIIT, the Formula S arrives in two battery configurations. The entry-level version pairs a 76.744 kWh LFP pack with a 245 kW rear-mounted motor, delivering 720 kilometers of range. The long-range variant steps up to a 92.093 kWh battery, achieving between 830 and 900 kilometers, while the all-wheel-drive setup pushes output to 490 kW. At just over five meters in length with a 2,960-millimeter wheelbase, the model is squarely aimed at the upper end of the market. Reports suggest the vehicle may be marketed under the Denza brand outside China.
Fang Cheng Bao's Ascent
The Formula S launch coincides with a notable milestone for its sub-brand. Fang Cheng Bao has now sold more than 500,000 vehicles cumulatively, with July alone accounting for 41,213 units — a 190.6 percent jump year over year. The average transaction price of over 223,000 yuan (roughly 32,850 US dollars) signals the brand's deliberate push into premium territory. The Tai 7 model has been the primary growth engine, surpassing 210,000 units within eleven months and contributing 27,320 sales in July.
Yet the sub-brand's success stands in sharp contrast to the group's overall trajectory. BYD reported first-half 2026 new energy vehicle sales of 1,808,511 units — a 15.72 percent decline from the 2,145,954 units sold in the year-earlier period. June sales did recover to above 400,000 vehicles, and exports hit a record 175,349 units. The domestic price war has taken its toll: in the first quarter of 2025, the operating margin in the auto business slipped from 7.2 percent to 5.8 percent, as BYD slashed prices by up to 15 percent on models like the Qin and Han.
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A Record Month With Caveats
July delivered a bright spot. BYD shipped 411,072 vehicles in China — its best single-month performance ever — comfortably ahead of Geely's 158,145 and Tesla China's 93,579. The broader wholesale market for new energy vehicles grew 23 percent to roughly 1.47 million units, the fastest pace this year, with retail penetration of electrified vehicles reaching a record 64.5 percent. Multiple fuel price hikes helped nudge buyers toward electric powertrains.
The global picture remains favorable for BYD. In the second quarter of 2026, the company delivered 557,090 battery-electric vehicles, outpacing Tesla's 480,126. Tesla did post a nearly 38 percent gain in China in July, but exports drove most of that growth — domestic deliveries have now declined for five consecutive quarters.
Robots, Brazil, and the Stock's Stubborn Gap
Beyond automobiles, BYD confirmed its first humanoid robot, Xiao Di, standing 1.61 meters tall and weighing 58.5 kilograms. The debut is planned for early August at the Di Space Center in Zhengzhou, with initial showroom placements in Shenzhen and Shanghai and an eventual expansion to 50 locations. The timing is awkward: the US FCC imposed import restrictions on Chinese robots on July 28, complicating BYD's global service robotics ambitions just as Tesla's Optimus enters the fray. The company has filed 47 robotics-related patents in twelve months, and production costs per unit are estimated between 50,000 and 80,000 dollars — an additional drag on margins already under pressure.
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Brazil offers a counterpoint. BYD launched the Song Pro Super-HĂbrido Flex, its first locally manufactured plug-in hybrid with flex-fuel capability, at the Camaçari plant backed by 5.5 billion reais in investment. The plant targets roughly 180,000 vehicles this year. July sales in Brazil reached 23,465 units, up 142 percent year over year, securing a 9.1 percent market share and fourth place overall.
The Frankfurt-listed shares have shown some resilience lately, trading at 10.38 euros pre-market — up about 1.09 percent — after gaining over eleven percent in the past 30 days. Still, the stock sits roughly 21.6 percent below its 52-week high of 13.23 euros, a gap that reflects investor wariness about the group's core sales weakness even as premium sub-brands and overseas ventures deliver operational wins.
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