BYD's Fang Cheng Bao launches Formula S electric sedan from $28,080, taking on Tesla Model 3

• The Formula S series starts at 189,900 yuan ($28,080), marking Fang Cheng Bao's entry into the sedan market.
• The Formula S and Formula S GT offer maximum CLTC ranges of 900 km and 850 km, respectively, with flash charging standard across the lineup.

BYD's (HKEX: 1211) personalization-focused brand Fang Cheng Bao has launched its Formula S series, entering China's fiercely competitive electric sedan market at prices below its earlier pre-sales range.

The brand launched the Formula S sedan and Formula S GT shooting brake on Wednesday, with the series starting at 189,900 yuan ($28,080).

The Formula S offers 5 variants priced from 189,900 to 229,900 yuan, while the Formula S GT comes in 4 variants priced from 219,900 to 239,900 yuan.

Pre-orders for both models opened on August 20 at an announced price range of 230,000 to 280,000 yuan. The series' official starting price is 40,100 yuan, or about 17.4%, below the lower end of that range.

The Formula S series is Fang Cheng Bao's third product line, following the rugged off-road Bao series and the urban-focused Tai series. It will broaden the customer base of the SUV-focused brand.

Fang Cheng Bao Formula S:

The new models will compete in the electric sedan market alongside the Xiaomi (HKEX: 1810) SU7 and Tesla (NASDAQ: TSLA) Model 3, seeking to attract buyers with long range, fast charging and a choice of chassis systems.

The entry-level rear-wheel-drive Formula S costs 189,900 yuan and features a 76.744 kWh battery, a CLTC range of 730 km and DiSus-C suspension.

The long-range rear-wheel-drive version costs 209,900 yuan, with battery capacity rising to 92.093 kWh and CLTC range reaching 900 km. Buyers can choose between DiSus-A and DiSus-M versions.

The all-wheel-drive Formula S costs 229,900 yuan and offers a CLTC range of 750 km, also with a choice of DiSus-A or DiSus-M.

All Formula S GT variants feature a 92.093 kWh battery. Rear-wheel-drive versions offer a CLTC range of 850 km, while all-wheel-drive versions deliver 730 km. Both drivetrain options are available with DiSus-A or DiSus-M.

Fang Cheng Bao Formula S GT:

The Formula S series marks the debut of the DiSus-M intelligent magnetorheological suspension system. It uses magnetorheological fluid to adjust damping within milliseconds, balancing handling response with everyday comfort.

DiSus-A versions instead use dual-chamber air suspension and variable-damping shock absorbers. DiSus-A and DiSus-M variants with the same power output and range are priced identically, giving buyers a choice of chassis systems.

Both models come standard with BYD's second-generation Blade Battery and flash charging, taking 5 minutes to charge from 10% to 70% and 9 minutes from 10% to 97%.

Rear-wheel-drive Formula S variants deliver peak power of 245 kW or 300 kW, while the rear-wheel-drive Formula S GT produces 300 kW. All-wheel-drive versions of both models have a combined output of 490 kW.

The Formula S series also features the LiDAR-equipped God's Eye B driver-assistance system, supporting urban and highway navigation assistance as well as automated parking.

Both models are positioned in the mid-to-large-size segment and share a 2,960 mm wheelbase. The Formula S measures 5,060 mm in length, while the Formula S GT is 5,025 mm long and features a different rear design.

Fang Cheng Bao's previously announced Formula S family also includes the Formula SL. This launch covers only the Formula S and Formula S GT.

The new product line arrives as Fang Cheng Bao's sales grow rapidly. The brand sold 41,568 vehicles in August, up 155.57% year-on-year, according to data compiled by CnEVPost.

Fang Cheng Bao sold 242,255 vehicles in the first 8 months of this year, up 165.66% year-on-year, already exceeding its full-year 2025 total of 234,637.