BYD accelerates its expansion in the B-end market

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Author | Zhou Zhiyu

BYD is accelerating its layout in the B-end market.

On May 9, 2026, BYD’s independent brand Linghui Auto launched its second model, the e9, priced between 150,800 and 169,800 RMB, positioned as a flash-charging business-class C-segment sedan. Three weeks ago, Linghui’s first model, the e7, debuted at a starting price of 95,800 RMB. Going back further to February 2, Linghui had only just officially announced its brand. From A to C segment, the full product matrix was rolled out in one quarter.

According to BYD’s plan, next, BYD will launch Linghui e5 and Linghui M9 models.

Judging from relevant parameters and appearance, the models currently launched under Linghui are all modified versions of existing BYD models.

The e9 is a modified version of the Han. The length of 4995mm and wheelbase of 2920mm are identical to the Han, with a new front face and logo. Eleven days ago, the Han EV flash-charging version launched at a starting price of 179,800 RMB, while Linghui e9 is nearly 30,000 RMB cheaper. Its range drops from 705km to 535/605km, and the smart driving package switches from the 12,000 RMB “God's Eye B” option to “God's Eye C”, lowering the price a rung.

There is little change to the chassis. The rear five-link suspension plus FSD variable damping is rare in the operating vehicle market at similar price points. Industry insiders told Wall Street News that the Linghui e9’s rear five-link uses iron materials, whose performance rivals aluminum links, while effectively reducing overall vehicle costs. Currently, very few dedicated transport vehicles use a rear five-link suspension.

The e7 is also a modified model, priced at 95,800 to 115,800 RMB, compared to the Haishi 07 EV which is priced above 130,000 RMB.

Like other BYD models, the Linghui series comes equipped with flash-charging. This technology is especially valuable for commercial drivers, reducing charging time from 40 minutes to the length of a quick meal. Being able to run two or three more orders per day is a real, tangible benefit. As of April, BYD has built 5,356 flash-charging stations nationwide, covering 311 cities, aiming for 20,000 by year-end. Efficient energy replenishment and a robust charging network may become BYD’s key advantages in entering the B-end market.

The rapid deployment of Linghui is mainly to address BYD's longstanding challenge with high-end branding. Sources close to BYD revealed that previously BYD had a government affairs division; Linghui has taken over several new energy vehicle models from that department, thereby achieving product differentiation between B-end and C-end markets and advancing BYD’s strategy for brand premiumization.

BYD’s 2025 financial report has already shown signs of pressure. Full-year revenue reached 804 billion RMB, up only 3.5% year-on-year, with net profit attributable to the parent company at 32.6 billion RMB, down 19%. The average domestic selling price per vehicle dropped to about 119,000 RMB, and automotive business gross margin fell from 22.3% at the end of 2024 to 20.5% by the end of 2025. With the price war at this level, maintaining volume alone can hardly preserve profit.

BYD’s solution is to move upward. Its three high-end brands, Yangwang, Denza, and Fangchengbao, totaled nearly 400,000 units in 2025, with Fangchengbao up 316% year-on-year. The Han L is priced from 209,800 RMB this year, while Song Ultra and Datang continue to climb, pushing BYD’s Q1 2026 ASP (average selling price per vehicle) back up to 160,000 RMB. High-end branding is the most direct way to offset the decline in domestic profits.

But there’s a premise for premiumization: the brand cannot be diluted.

Qin and Han are the main sellers in the Dynasty series and common faces on ride-hailing platforms. In the 2023 ride-hailing market, Aion ranked first with 219,000 units, BYD was close behind with 191,000. Though BYD’s overall reliance on ride-hailing vehicles is relatively low, many of its commercial vehicles run under the Dynasty brand. When consumers consider the Han at the 200,000 RMB price range, does the large presence of operating vehicles weaken their perception of the Han as a premium brand?

Aion has already answered this question. At its sales peak in 2023, over 40% of its sales came from the ride-hailing market, and its brand value was affected by the “ride-hailing” label. In June 2025, GAC chairman Feng Xingya revealed that Aion would create a separate brand for B-end, but so far it hasn’t come to fruition.

BYD also hopes to solve this problem through the Linghui brand.

Linghui does not carry the BYD badge, is not sold through Dynasty or Ocean networks, and its sales and after-sales channels are completely independent. The 150,000 RMB e9 grabs market share from commercial operations, while the 180,000 RMB Han remains in the Dynasty series as a C-end flagship. The same platform offers two sets of brands, prices, and customers—not abandoning the B-end market, while extracting the Dynasty brand from the ride-hailing label, creating space for premiumization.

In addition, as L3 autonomous driving is realized domestically and Robotaxi commercialization speeds up, Linghui, as an independent B-end brand, is also structurally prepared to undertake such business, whether BYD builds its own mobility platform in the future or partners with third parties. Among top domestic automakers, BYD is currently one of the few without its own mobility platform.

At present, BYD is fighting two battles at once: expanding capacity overseas and pushing high-end products domestically. Both aim for the same goal: to shift its profit structure away from “low price, high volume.”

When an automaker’s products cover price ranges from 80,000 to 1 million RMB, layered brand management is no longer optional. Linghui’s essence is that after BYD surpassed 4 million units in scale, it is seriously confronting the issue that “who to sell to” is more important than “how many to sell.”

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