BYD said on Tuesday that its new electric vehicle brand, called Yangwang in Chinese pinyin, will be a “role model” for luxury cars in the latest move by the Chinese automaker to boost its exposure in the country’s high-end auto segment. The new marque will have access to BYD’s most advanced technology and complete supply chain solutions, the company noted on its official Weibo account, though further details regarding the brand are yet to be made public. There is speculation that Yangwang’s vehicles will have a target price tag of at least RMB 1 million ($150,000), with its first car scheduled for sale in early 2023. [BYD announcement, in Chinese]