BYD Lines Up Yangwang's Overseas Bow as Formula Deliveries Begin and Seoul Calls Executives to Testify

South Korean lawmakers summon BYD unit heads to an audit; BYD plans an overseas Yangwang presentation and weighs a second European plant.

South Korean lawmakers have summoned the heads of BYD's local unit and its passenger-vehicle division to appear as witnesses at the National Assembly's annual audit, according to media reports, as the Land, Infrastructure and Transport Committee digs into consumer-policy questions tied to the auto industry.

The stock finished the previous session at EUR 8.52, a gain of 0.5% on the day, though it remains 20% lower since the start of the year. In today's trading the shares were quoted at EUR 8.55, up 0.9%.

A Premium Brand Steps Outside China

BYD is preparing an official presentation abroad for Yangwang, its luxury marque, according to minutes from the company's September 29 shareholder meeting that were reported a day later. Management has not yet disclosed a date or a venue for the event, but the move signals an intent to compete in the high-margin premium segment beyond China, where Yangwang's lineup has so far been largely confined.

On the home front, the group opened nationwide registration on Tuesday for buyers interested in the Fang Cheng Bao Ti 9, its flagship SUV, with the first units from series production reaching local sales channels at the same time.

Formula S Deliveries Under Way, With 15,000 Units in Sight

Deliveries of the Formula S and Formula S GT also began in China on Tuesday. Company representatives said combined monthly sales of the two variants should clear 10,000 units and could potentially reach as many as 15,000 vehicles. The Formula S range sits under the Fang Cheng Bao brand, and media reports indicate BYD is targeting monthly volumes of 15,000 units for the series.

Looking further out, the automaker intends to bring its first solid-state battery electric vehicle to market in 2027.

European Footprint Still Taking Shape

Beyond the model offensive, BYD is pushing ahead with local manufacturing capacity overseas. Alfredo Altavilla, the company's European adviser, told Reuters that BYD is weighing the takeover and modernization of an existing plant for its next European site, with Spain and France among the leading options. A decision on that second European production base is due by the end of the year.

Altavilla's assessment is that BYD will ultimately need three vehicle assembly plants plus a battery factory in Europe to serve the market efficiently.

Xi'an Adds 8,000 Staff as a Recall Tests Quality Control

Domestically, the group continues to scale up. At its Xi'an manufacturing site, BYD recently hired more than 8,000 new employees across various plants and business units, according to media reports citing Chinese coverage.

The risks that come with such rapid expansion were on display in mid-September. On September 18, BYD recalled 183,211 vehicles from its Qin and Tang model lines in China over a defect in the brake pedal stopper. Reuters reported that China's market regulator ordered the recall with immediate effect, covering vehicles built between 2014 and 2022, because the stopper could break or come loose. BYD said it will replace the affected component free of charge for customers through its authorized dealers.