Chinese auto giant BYD is set to launch its first pure electric model, the Tai 3, on March 31, 2025, as part of its aggressive strategy to expand its product lineup. The pre-sales for the Tai 3 will begin with a launch event scheduled for 7 pm Beijing time, announced the company on Weibo. This new model marks a significant milestone for BYD's sub-brand, Fang Cheng Bao, which was established on August 16, 2023.
The Tai 3 will be the third model from Fang Cheng Bao, following the hybrid Bao 5 off-road SUV launched in November 2023 and the Bao 8 SUV, which debuted in November 2024. The new electric vehicle (EV) will support the Ling Yuan automotive drone system, a technological innovation introduced by BYD earlier this month.
Fang Cheng Bao's strategy has evolved since its inception, with the company originally announcing two concept cars, the Super 3 SUV and the Super 9 supercar, on April 16, 2024. However, regulatory changes led the company to rename its production version of the Super 3 to the Tai 3 in December 2024. The Tai series will focus on family-oriented models with a unibody design, contrasting with the Bao series, which utilizes a body-on-frame design more suited for off-road capabilities.
The Tai 3 is designed with a dedicated smart EVO platform, ensuring solid energy efficiency even in extreme low temperatures. According to the company, the vehicle can be charged from 20 percent to 80 percent in just 28 minutes at temperatures as low as minus 30 degrees Celsius. The Tai 3 will feature a spacious interior with five seats and dimensions of 4,605 mm in length, 1,900 mm in width, and 1,720 mm in height, alongside a wheelbase of 2,745 mm. It will be powered by dual motors, delivering a maximum power of 110 kW for the front motor and 200 kW for the rear motor.
BYD's continuous expansion is evident as the company also launched several new models this month, including the Qin L EV sedan and the Sealion 05 EV SUV, in addition to the N9 SUV from its sub-brand Denza. Later today, its ultra-luxury sub-brand Yangwang will unveil the U7 luxury sedan.
Beyond the Tai 3, BYD has established itself as a formidable player in the global electric vehicle market. The company reported an impressive revenue of $107 billion for 2024, surpassing Tesla's revenue of $97.7 billion. This achievement is attributed to the sale of 4.3 million electric and hybrid vehicles, making BYD the sixth-largest automaker worldwide by vehicle sales, just behind industry giants like Toyota and Volkswagen.
Founded in 1995 by Wang Chuanfu, BYD began as a battery manufacturer and has since transformed into a leading automaker. The company made its first foray into the automotive industry in 2003 by acquiring a struggling state-owned car company. Its first vehicle, the F3, was launched in 2005, followed by the introduction of the F3DM, a plug-in hybrid electric vehicle, in 2008. A significant investment from Warren Buffett's Berkshire Hathaway in the same year helped propel BYD into the spotlight.
BYD's success can be attributed to several factors, including government support, innovative technologies like the Blade battery, and a strong focus on global expansion. The Blade battery, introduced in 2020, has revolutionized the EV market by offering improved energy density and safety, allowing BYD to sell its vehicles at competitive prices while maintaining profitability.
In addition to its domestic achievements, BYD has made significant strides in international markets. The company holds a 43% market share for electric vehicles in Southeast Asia and has begun expanding its footprint in Europe and South America. However, challenges remain, particularly in the United States, where high tariffs on Chinese imports have hindered BYD's entry into the market.
Looking ahead, BYD aims to make smart driving technology accessible in vehicles priced below CNY100,000 (approximately $13,780) by 2025. This move is expected to prompt competitors like Geely and Changan to accelerate their own offerings in the smart driving segment.
As the electric vehicle market continues to evolve, BYD is poised to maintain its leadership position with innovative products and a commitment to affordability. With the Tai 3 set to launch soon, the company is once again demonstrating its drive to push the boundaries of electric vehicle technology and accessibility.
