BYD begins production of electric supercar that's faster than a Ferrari

China's BYD, maker of some of the cheapest electric vehicles on the market, is heading upmarket with a vengeance.

The company has begun manufacturing its first electric supercar, reports say. Deliveries for the vehicle, dubbed Yangwang U9, will begin next month.

The supercar will rival models from luxury racing car companies such as Ferrari and Lamborghini. The Yangwang U9 has four advanced e-motors and nearly 1,300 horsepower. It is powered by an 80 KWh battery and has 450 km range as per China's CLTC measurement system. The car can also fast charge, going from 30 percent to 80 percent in 10 minutes.

It can go from 0 to 100 kmph in 2.36 seconds, faster than the Ferrari twin-turbo V8 SF90 Stradale (2.5 seconds) and the Bugatti Chiron (2.4 seconds). Its top speed is just under 310 kmph, the company says.

Yangwang, BYD's luxury sub-brand, was launched in January 2023 as the company's new premium marque. The U9 model was displayed alongside a full-size SUV dubbed the U8, which takes aim at another people pleaser: the Mercedes-Benz G-Class vehicle.

BYD is going all out to woo upmarket customers. The company has updated its vehicle warranty to cover battery, motors, and electric control system for the vehicle's lifetime.