A regulatory filing image of the Fang Cheng Bao Formula S.
- Fang Cheng Bao filed the Formula S and its shooting brake variant, the Formula S GT, marking a key step in its expansion into the sedan market.
- Fang Cheng Bao delivered 30,186 vehicles in May, up 140% year-on-year.
The first sedan series from Fang Cheng Bao, the personalized brand under BYD (HKEX: 1211) — the Formula S series — has appeared in the latest batch of new vehicle filings, paving the way for its launch in the third quarter.
The latest regulatory catalog published by China’s Ministry of Industry and Information Technology (MIIT) on Wednesday shows that Fang Cheng Bao filed a total of five model variants for the Formula S series, covering two body styles — the Formula S sedan and the Formula S GT shooting brake.
The filing marks a key step in the brand’s expansion from off-road vehicles and urban SUVs into the sedan market.
Both models are all-electric vehicles equipped with lithium iron phosphate (LFP) batteries, with a top speed of 240 km/h.
A regulatory filing image of the Fang Cheng Bao Formula S GT.
The Formula S is 5,060 mm long and 1,967 mm wide, with a wheelbase of 2,960 mm, according to the filing.
The model offers three powertrain options: single-motor, rear-wheel-drive versions with a peak power of 245 kW (329 hp) or 300 kW, and a dual-motor, all-wheel-drive version with front and rear motors rated at 190 kW and 300 kW, respectively.
The Formula S GT is the shooting brake variant of the series, measuring 5,025 mm in length, which extends to 5,095 mm with an optional tow hook, and offering a towing capacity of 500 kg. It is available with either a 300 kW single motor or a 190/300 kW dual-motor setup.
Both models will be produced at BYD’s Xi’an and Changzhou plants, with motors and batteries supplied by BYD itself.
Fang Cheng Bao announced at the Beijing Auto Show in April that its first sedan product line would be named Formula S, with the family comprising three models — the Formula S, the larger Formula SL sedan, and the Formula S GT shooting brake. The series is scheduled to launch in the third quarter of 2026.
Xiong Tianbo, general manager of Fang Cheng Bao, said during the auto show that entering the sedan market was not a departure from the brand’s positioning, but a necessary addition.
She said that more consumers are rejecting cookie-cutter sedans and craving more distinctive products with attitude, and that the Formula S series aims to offer a “full-scenario solution for personalized sedans.”
Before the Formula S series, Fang Cheng Bao’s lineup included the Bao series, which focuses on smart off-road vehicles, and the Tai series, positioned as urban vehicles.
The brand also unveiled the Formula X concept sports car at the 2026 Beijing Auto Show, with the production version expected to launch in 2027.
The arrival of the Formula S series comes as Fang Cheng Bao’s sales are climbing rapidly.
The brand delivered 30,186 vehicles in May, up 139.7% year-on-year and 3.6% from the previous month, according to data compiled by CnEVPost.
Fang Cheng Bao Monthly Sales 2024-2026
Month
2024
2025
2026
January
5,203
6,219
21,581
February
2,310
4,942
17,036
March
3,550
8,051
25,926
April
2,110
10,039
29,138
May
2,430
12,592
30,186
June
2,680
18,903
July
1,842
14,180
August
4,876
16,265
September
5,422
24,121
October
6,026
31,052
November
8,521
37,405
December
11,418
50,868
Fang Cheng Bao monthly sales
2024
2025
2026
In the first five months of this year, Fang Cheng Bao’s cumulative deliveries reached 123,867 units, up 196% year-on-year.
Since the brand’s inception, its cumulative deliveries have reached 420,604 units.
The Denza Z comes in three variants, all powered by a tri-motor system with a combined peak output of 1,180 kW (1,582 hp).
