Shanghai (ZXZC)- Chinese automaker BYD plans to announce an all-new premium auto brand in the first half of 2022 and the first model under the new brand is set to be launched in the second half of next year, according to a local media outlet, who got the information on Dec. 14 at BYD’s tech communication meeting. 

The new brand's first model is said to be a rugged-looking off-roader priced between 500,000 yuan ($78,510) and even 1 million yuan ($157,010), targeting such famous off-road models as the Mercedes-Benz G and the Hummer. It is expected to hit the market in 2023.

Operations of the yet-to-be-launched brand will be reportedly managed by an independent group. The new brand's relation to BYD may be similar to that of Porsche to Volkswagen, said the aforesaid media channel.

Besides, a product roll-out plan leaked to web discloses that the rugged-styled off-roader may come with both BEV and PHEV trim levels, and would be manufactured at BYD's Hefei plant. It also reveals that the new brand perhaps release a C-segment MPV as its second model.

Interestingly, Zhao Changjiang, the director for the preparations of BYD's high-end brand, last month raised a question about how to define a 7-seater MPV via his twitter-like Weibo account.