Shanghai (Gasgoo)- On July 29, BYD's sub-brand FANGCHENGBAO announced a refreshed strategic plan to mark its first anniversary. Central to this announcement was the introduction of new pricing for the BAO 5 model, now ranging from 239,800 yuan to 302,800 yuan.
The recent move means that the BAO 5, which hit the market on November 9, 2023, has seen a significant price reduction across all variants, dropping by 50,000 yuan from its original price range of 289,800 yuan to 352,800 yuan.
FANGCHENGBAO is BYD's sub-brand targeting the mid-to-high-end market with a focus on personalized vehicles. The brand was officially unveiled on August 16, 2023, with BYD Chairman and President Wang Chuanfu emphasizing BYD's commitment to delivering unprecedented personalized driving experiences to global users. He envisioned a "greater revolution" in the new energy vehicle (NEV) sector, positioning cars as unique personal items.
He added that FANGCHENGBAO integrates BYD's top-tier professional technology, forward-thinking concepts, and a fully integrated supply chain system. Wang Chuanfu's vision for FANGCHENGBAO encapsulates the theme of "New Energy + Infinite Possibilities."
When the BAO 5 first hit the market, the Explorer version was priced at 289,800 yuan, the Navigator version at 309,800 yuan, and the DiSus Flagship version at 352,800 yuan. In April this year, the BAO 5's DiSus Premium version was introduced with a guide price of 329,800 yuan.
Looking ahead, FANGCHENGBAO plans to launch the BAO 8 model, a mid-to-large-sized rugged SUV, in the third quarter of this year to bolster its electric off-road product lineup. Following its "2+X" product strategy, FANGCHENGBAO also aims to introduce sports cars and other models, shifting its focus from niche products to more mainstream-market offerings.
In June this year, FANGCHENGBAO announced the expansion of its dealership network, adopting a franchising model. The initial network will cover 22 provinces, four centrally-administered municipalities, and five autonomous regions across China.
Since its launch, the brand has sold nearly 24,000 vehicles by the end of June. However, it is noteworthy that monthly sales have not exceeded 3,000 units for three consecutive months since April.
