A showcase of BYD vehicles. [Photo/WeChat ID: minhangnews]
Chinese electric vehicle giant BYD is expanding its footprint by establishing a new fully-owned subsidiary, Shanghai Yangwang Auto Sales Service Co Ltd, in Minhang district, Shanghai. This new subsidiary will be BYD's largest store in China, and it serve as Yangwang brand's East China administrative headquarters.
Set to begin operations in the fourth quarter of 2024, this subsidiary represents a significant investment of approximately 150 million yuan ($20.66 million). Spanning around 10,246.8 square meters, this flagship location will feature high-end Yangwang vehicles, showcase new energy vehicle technology, and provide comprehensive services, including new car deliveries, auto parts supply, vehicle maintenance, and customer engagement.
The local government has played a crucial role in facilitating this project, offering streamlined support regarding a range of processes, including site inspections and business registration.
Founded in 1995 and headquartered in Shenzhen, Guangdong province, BYD is a Fortune Global 500 company with a presence in the automobile, new energy, electronics, and rail transportation sectors.
