SHANGHAI, April 10 Reuters China39;s BYD launched on Monday a new chassis suspension system as the electric vehicle maker ramps up efforts to move upmarket with premium products.

The system, BYD DiSus Intelligent Body Control System, is similar to the chassis suspension systems available in premium and luxury cars, such as Porsche39;s Dynamic Chassis Control and Mercedes Benz39;s Magic Body Control.

The DiSus system will come in three variations and will be used in BYD39;s luxury offroad SUV Yangwang U8 initially, BYD said in a statement. It will also be available in BYD39;s Han, Tang and Denza models, it added.

The move underscores a shift for BYD, whose current car products are mostly concentrated in the mass market segment priced under 300,000 yuan 43,641.44, as it attempts to reach a more upmarket segment with its offerings.

BYD launched its first luxury car brand Yangwang in January with an offroad SUV and a sportscar priced above 1 million yuan.

BYD has benefited from its strategy to use selfdeveloped batteries and powertrain systems. The company last month reported an elevenfold increase in fourthquarter profit with 20.4 gross profit margin for automobiles and related products, well above its 3.7 margin in 2021.

1 6.8742 Chinese yuan renminbi

Reporting by Zhang Yan, Brenda Goh and Meg Shen, editing by Deepa Babington

Source Reuters