BYD’s New $233,450 EV Supercar to Rival Ferrari, Lamborghini

BYD Co. debuted its most expensive car on Sunday, a 1.68 million yuan ($233,450) high-performance electric supercar pitted against gas-guzzlers offered by rivals such as Ferrari NV and Lamborghini.

The Yangwang U9 initially will be exclusively for the China market, the company said at a live-streamed event in Shanghai. The car can hit 100 kilometers per hour (62 mph) in 2.36 seconds and reach a top speed of 309.19 km/h, BYD said.