SHANGHAI (Reuters) -Chinese language electrical car large BYD mentioned on Tuesday that it might launch a brand new premium model within the first quarter of 2023.

BYD mentioned automobiles produced underneath the brand new model shall be priced above 1 million yuan ($138,096.75), with out additional elaboration.

Having ditched gasoline automobiles from its product combine this 12 months, BYD has, greater than some other automaker, been in a position to capitalise on a spread of incentives for electrical vehicles supplied by the Chinese language central authorities in addition to native governments.

The automaker, which produces each pure electrical and plug-in hybrid vehicles, has topped electrical car gross sales on this planet’s largest auto market, with gross sales greater than tripled within the first 10 months to hit 1.4 million, in line with firm filings.

($1 = 7.2413 renminbi)