BYD’s Fang Cheng Bao brand has filed its first-ever sedan series with China’s Ministry of Industry and Information Technology (MIIT), revealing the Formula S liftback and Formula S GT wagon ahead of a scheduled Q3 2026 market launch. The filing marks Fang Cheng Bao’s strategic expansion beyond off-road SUVs into the premium sedan segment.
The filing includes five variants across two body styles — the standard Formula S sedan and the more practical Formula S GT wagon — all powered by BYD’s in-house Blade Battery (LFP) technology with a top speed of 240 km/h, according to CnEVPost analysis of MIIT filing data.
Fang Cheng Bao general manager Xiong Tianbo framed the sedan entry as a response to evolving consumer demand: “Consumers are tired of cookie-cutter sedans. They want vehicles with attitude and distinctive character. The Formula S series delivers an all-scenario solution for personalized sedans.”
Specifications and Powertrain
The Formula S sedan measures 5,060 mm in length with a wheelbase of 2,960 mm and width of 1,967 mm, placing it firmly in the mid-to-large sedan segment. The Formula S GT wagon is slightly shorter at 5,025 mm (extending to 5,095 mm with an optional tow hook), and notably offers a 500 kg towing capacity — a rare feature in the Chinese electric sedan market.
Powertrain options span three configurations, per CarNewsChina’s coverage of the filing: a single-motor rear-wheel-drive variant producing 245 kW (329 hp), a more powerful single-motor RWD version at 300 kW, and a range-topping dual-motor all-wheel-drive setup combining a 190 kW front motor with a 300 kW rear motor for a combined 490 kW (657 hp). All variants use BYD’s lithium iron phosphate (LFP) Blade Battery, though specific capacity and range figures remain undisclosed pending official launch.
Fang Cheng Bao’s Expanding Portfolio
The Formula S series represents the third product line for Fang Cheng Bao, which launched in 2023 as BYD’s personalized sub-brand. The brand currently offers the “Bao” series of off-road SUVs (Bao 5, Bao 8) and the “Titanium” series of urban SUVs. At the 2026 Beijing Auto Show, Fang Cheng Bao also previewed the Formula X concept sports car, with a production version expected in 2027.
Sales momentum has been strong: Fang Cheng Bao delivered 30,186 units in May 2026, a 140% year-on-year increase, bringing cumulative deliveries since inception to 420,604 units, according to CnEVPost’s sales tracker. January-May 2026 deliveries reached 123,867 units, up 196% from the same period last year.
Industry Impact
Fang Cheng Bao’s sedan entry intensifies competition in China’s mid-to-large electric sedan market, where established players include XPeng’s P7+, BYD’s own Han series, and Zeekr’s 001. The Formula S differentiates itself through aggressive styling and the GT wagon body variant — a form factor that has gained traction in China as consumers seek vehicles that blend sporty design with practical cargo space.
The move also demonstrates BYD’s multi-brand strategy in action: the Han sedan covers the mainstream premium segment, Denza targets the luxury tier, and Fang Cheng Bao captures buyers seeking more distinctive, personality-driven vehicles. This segmentation allows BYD to compete across the full sedan market without cannibalizing its own sales.
Why It Matters Globally
Fang Cheng Bao’s expansion into sedans represents a maturing of BYD’s multi-brand strategy. Unlike mass-market BYD models designed for volume, Fang Cheng Bao vehicles emphasize design, customization, and emotional appeal — qualities increasingly important for Chinese brands seeking to build global brand equity. As BYD expands internationally, Fang Cheng Bao could become the group’s design-forward export brand, competing directly with European and Japanese premium sedans.
The Formula S GT wagon is particularly noteworthy: sporty wagons have traditionally been a European specialty. A Chinese brand entering this niche signals growing confidence in competing on design and lifestyle appeal, not just on price and specifications.
What’s Next
The Formula S and Formula S GT are expected to officially launch in Q3 2026, with pricing likely to be announced closer to the on-sale date. Production will take place at BYD’s Xi’an and Changzhou facilities. The larger Formula SL sedan and Formula X sports car remain in the pipeline for later launches.
FAQ
What is Fang Cheng Bao?
Fang Cheng Bao (方程豹) is BYD’s personalized sub-brand launched in 2023, positioned between the mainstream BYD brand and the luxury Denza and YangWang brands. It focuses on distinctive, design-forward vehicles including off-road SUVs, urban SUVs, and now sedans.
What’s the difference between Formula S and Formula S GT?
The Formula S is a traditional liftback sedan, while the Formula S GT is a wagon/shooting brake variant with a longer body (up to 5,095 mm with tow hook) and 500 kg towing capacity. Both share the same powertrain options and 2,960 mm wheelbase.
Will the Formula S be exported?
BYD has not confirmed export plans for the Formula S, but Fang Cheng Bao’s global trademark registrations and BYD’s aggressive overseas expansion suggest international availability is likely, potentially starting with Southeast Asia and the Middle East.
