BYD unveils third ultra-luxury model under Yangwang brand

BEIJING (Reuters) – Chinese electric vehicle maker BYD unveiled the U7, its third ultra-luxury model under the Yangwang brand, on Thursday, as it makes a push upmarket to increase profitability amid an intensifying price war.

Last year, BYD added the Yangwang brand to its stable with an SUV and sports car priced over 1 million yuan ($138,009).

(Reporting by Yelin Mo and Brenda Goh; Editing by Kim Coghill)

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