[2][3][4] In 2023, BYD Auto launched two new brands: Yangwang, a line of advanced vehicles introduced in January, while Fangchengbao was announced on June 9, 2023.

It debuted at the Chengdu Auto Show and based on an Fangchengbao-specific body-on-frame platform called DMO (Dual Mode Off-road).

[12] During the event, general manager Xiong Tianbo confirmed the brand's initial success, reporting 20,000 cars sold in China within six months.

[15] In July 2024, Fangchengbao lowered the price of the Bao 5 model by 50,000 yuan in China to improve its competitiveness against Great Wall Motor's popular Tank series.

Protesters displayed banners with statements such as, "I waited 3 months for car delivery, then Fangchengbao cuts 50,000 yuan in one day.