What Fang Cheng Bao does

Fang Cheng Bao (方程豹汽车) is the premium new-energy vehicle sub-brand of BYD Company Ltd., founded in 2023 and headquartered in Shenzhen, China. The brand designs, manufactures, and sells plug-in hybrid and battery-electric vehicles with a primary focus on the high-end rugged off-road SUV segment, where it became the #1 player in China by May 2026, overtaking Great Wall Motor's Tank brand. Its product portfolio spans the Leopard 5, Leopard 8, Bao 5, Bao 8, TAI 3, TAI 7, and Titanium 3 SUVs, the Shark plug-in hybrid pickup, and the forthcoming Formula S sedan, Formula X sports car, and S/S GT sedans.

The brand's technology foundation is BYD's vertically integrated stack: the DMO and DMO+ Super Hybrid Off-road Platforms (1.5T engine plus dual-motor plug-in hybrid systems producing over 430 hp combined), the second-generation Blade Battery, DiSus-P Ultra intelligent hydraulic and DiSus-M magnetorheological suspension systems, 1,500 kW flash-charging capable of replenishing 10% to 70% state of charge in approximately 5 minutes, and proprietary off-road control features including iTAC torque control, wheel-lift escape mode, three-wheel driving, and mid-air tire change. BYD's nearly 6,000 flash-charging stations across 310+ Chinese cities provide supporting infrastructure, with plans to expand to 20,000+ sites by end-2026.

Commercially, Fang Cheng Bao sells vehicles through BYD's authorized dealership network in China at unit prices ranging from 133,800 yuan (Titanium 3 entry) to 419,800 yuan (Bao 8 Fast Charge Edition), targeting individual Chinese consumers in segments including premium off-road SUV buyers, new-energy off-road enthusiasts, young tech-savvy consumers, luxury performance buyers, and eco-conscious pickup buyers. The brand reached 400,000 cumulative sales by May 20, 2026 — a milestone achieved on the back of 150,000 TAI 7 units — and is expanding internationally into Thailand while already exporting the Shark pickup to Mexico, Brazil, Chile, Peru, Australia, and the UK. Revenue derives almost entirely from hardware (vehicle) sales; the brand is privately held as a division of publicly listed BYD (SZSE: 002594, HKEX: 1211.HK) and does not publish standalone financials.

Name

Fang Cheng Bao

Legal name

方程豹汽车

Website

https://fangchengbao.com

Company type

Private

Founded year

2023

Operating status

Operating

Short description

Fang Cheng Bao (方程豹汽车) is BYD's premium new-energy vehicle sub-brand, designing and selling plug-in hybrid and electric off-road SUVs, pickups, and forthcoming sedans and sports cars to individual Chinese consumers, leveraging BYD's DMO platform, Blade Battery, DiSus suspension, and 1,500 kW flash-charging technology.

Ownership category

akta.pro rank

Product category

New-Energy Vehicles (Premium Off-Road SUVs and Passenger Cars)

NAICS

Motor Vehicle Electrical and Electronic Equipment Manufacturing (336320), Motor Vehicle Steering and Suspension Components (except Spring) Manufacturing (336330)

SIC

Motor Vehicle Parts & Accessories (3714)

akta.pro primary industry

EV Platform/Skateboard & Chassis Integration Manufacturing (IMACACAI)

akta.pro secondary industry

Automotive Infotainment, Telematics & Connectivity Hardware Manufacturing (TCU/V2X/GNSS) (IMACAJAH)

Keywords

• New energy vehicles
• Plug-in hybrid SUVs
• Off-road electric vehicles
• Premium auto brand
• Automotive manufacturing

Headquarters

HQ city

Shenzhen

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Personnel

Revenue model

1. Vehicle Sales: Primary revenue from direct sales of electric and plug-in hybrid vehicles across multiple segments including off-road SUVs, sedans, and sports cars. Revenue generated through authorized dealership network in China and international markets.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Fang Cheng Bao (方程豹) designs, manufactures, and sells premium new-energy vehicles (NEVs) including plug-in hybrid off-road SUVs (Leopard 5, Leopard 8, Bao 5, Bao 8, Tai 3, Tai 7, Titanium 3), the Shark pickup truck, and upcoming electric sedans (Formula S, Fangchengbao S/S GT) and sports cars (Formula X). Vehicles are built on BYD's proprietary DMO Super Hybrid Off-road Platform and equipped with second-generation Blade Battery, DiSus intelligent suspension systems, and ultra-fast flash-charging technology. The brand targets individual consumers seeking premium off-road capability and on-road comfort at more accessible price points than traditional luxury off-road competitors.

Product overview

Fang Cheng Bao is BYD's premium sub-brand focused on high-end off-road vehicles and personalization-focused luxury vehicles. The brand operates a multi-product portfolio spanning premium off-road SUVs (Leopard 5, Leopard 8, Bao 5, Bao 8, Tai 3, Tai 7, Titanium 3), plug-in hybrid pickups (Shark), and upcoming electric sedans/sports cars (Formula S, Formula X, Fangchengbao S, Fangchengbao S GT). Products leverage BYD's core technologies including DMO Super Hybrid Off-road Platform, DMO+ electric off-road platform, DiSus-P Ultra intelligent hydraulic body control system, DiSus-M magnetorheological suspension, second-generation Blade batteries, and ultra-fast flash-charging technology capable of 1,500 kW power.

Differentiator

Problem solved

Functional benefit

Products and services

• Leopard 5 Premium off-road SUV built on BYD's DMO Super Hybrid Off-road Platform with advanced electric powertrain for hardcore off-road capability. Targeted at off-road SUV buyers.
• Leopard 8 Flagship premium off-road SUV in the lineup, featuring advanced electric hybrid powertrain technology. Positioned as top-tier off-road model.
• Bao 8 Fast Charge Edition High-end off-road SUV with DiSus-P Ultra intelligent hydraulic body control system and DMO+ electric off-road platform; achieves 4.8-second 0-100 km/h acceleration and 1,380 km combined range.
• Bao 5 DiSus Fast Charge Edition Off-road SUV with DiSus Fast Charge Edition, DMO+ electric off-road platform, second-generation Blade batteries, and industry-first wheel-lift escape capability.
• Tai 3 Flash-Charging Edition Compact SUV featuring flash-charging technology that charges from 10% to 70% in approximately 5 minutes using second-generation blade battery technology.
• Tai 7 SUV Mid-size SUV launched September 9, 2025, priced between 179,800 and 219,800 yuan. Core growth engine for the brand with 150,000 units sold cumulatively. Also available in EV flash-charging edition.
• Titanium 3

Quantifiable outcome

• TAI 7 model reached 150,000 unit sales as single model contribution to 400,000 total milestone
• +4 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature12 records

Partnerships

One partnership is on record.

• DJI (Da Jiang Innovation)minorStrategic or Co-development Partner · 16 April 2025Jointly developed drone system integrated into Titanium 3 SUV, combining automotive expertise with DJI's drone technology for innovative in-vehicle aerial system capability.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• XPeng: Chinese NEV manufacturer focused on intelligent EVs (G6, G9, X9) with strong ADAS technology positioning. Competes in adjacent premium segments with overlapping buyer demographics, particularly for technology-forward buyers that also consider Titanium 3.

Direct peers

• Li Auto: Chinese NEV manufacturer focused on premium extended-range EVs (EREVs) including the Li L7, L8, L9 SUV lineup. Direct competitor in the premium family SUV segment with overlapping buyer demographics and similar pricing tiers.
• ZEEKR: Geely's premium NEV brand with similar volume scale (~30,000 monthly units) and competing in the premium electric and hybrid SUV market. ZEEKR X, 001, 007, 009 overlap with Fang Cheng Bao's TAI 7 and Bao 8 in target segment.
• NIO: Premium Chinese NEV manufacturer with full-size SUVs (ES8, ES7) and battery-swap ecosystem. Targets the same premium buyer segment and offers overlapping technology (swappable batteries, ADAS) though positioned slightly higher in price.
• AITO (Huawei/Seres): Premium NEV brand co-developed by Seres and Huawei, featuring the M7, M9 SUV lineup with Huawei's HarmonyOS cockpit. Competes in the premium intelligent SUV segment with comparable price points to Fang Cheng Bao's Bao 5, Bao 8, and TAI 7.
• Tank (Great Wall Motor): Great Wall Motor's premium off-road SUV sub-brand, formerly the #1 in China's rugged SUV segment that Fang Cheng Bao directly displaced in 2025. Tank sells the Tank 300, 400, 500, and 700 series with overlapping price points and customer base.
• Deepal (Changan): Changan Automobile's NEV brand, also converging at the ~30,000 monthly unit level. Deepal S7, SL03, and G318 compete in overlapping price bands and SUV segments with Fang Cheng Bao's lineup.
• Hyper (GAC Aion): GAC's premium NEV sub-brand featuring the Hyper SSR supercar and Hyper GT sedan. Competes in the premium NEV segment with similar monthly volume scale, targeting sporty and high-performance positioning that overlaps with Fang Cheng Bao's Formula S and X lineup.

Broad incumbents

• Denza: BYD's joint venture premium NEV brand with Mercedes-Benz, offering sedans and SUVs (N7, N8, N9). Shares BYD's e-Platform and Blade Battery technology, competing in the premium NEV segment overlapping with Fang Cheng Bao's positioning.
• Yangwang: BYD's ultra-premium sub-brand featuring the U8 luxury SUV and U9 supercar. Direct sister sub-brand under BYD, sharing DMO platform and Blade Battery technology but targeting higher price points (U8 at ~1.1M yuan) above Fang Cheng Bao's range.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fang Cheng Bao