BYD's Off-Road Brand Just Opened Orders for a Panamera-Style Sedan and Wagon

Fang Cheng Bao（Formula Leopard） announced on August 20 that the Formula S sedan and Formula S GT shooting brake are now open for pre-order across China, with an indicative range of RMB 230,000 to 280,000 ($34,100 to $41,500).

Both cars make their public debut at the Chengdu auto show this week, with deliveries planned for the third quarter. The sticker lands well above the sub-$26,000 entry price that Chinese media had been predicting for months.

The launch completes a three-pronged lineup for the young brand. The Bao series handles hardcore off-roaders, the Tai series covers urban SUVs, and the Formula S family takes on passenger cars with three body styles on one platform, a sport sedan, a long-wheelbase executive version, and the GT shooting brake.

Chinese netizens have already nicknamed it the Panamera leopard, a nod to the low-slung fastback silhouette that clearly borrows from Porsche's playbook.

Regulatory filings show the Formula S at 199.2 inches long (5,060 mm) on a 116.5-inch (2,960 mm) wheelbase, with single-motor versions at 328 or 402 hp and a dual-motor option good for 657 hp, all on LFP batteries with a 149 mph top speed.

Earlier reports point to standard magnetorheological suspension, rear-wheel steering, 800V flash charging that goes from 10% to 97% in nine minutes, and up to 559 miles (900 km) of CLTC range. The GT wagon adds a 0.21 drag coefficient, a 23-cubic-foot (650 L) trunk, and a tri-motor flagship with close to 1,000 hp.

The open questions are real, though. Fang Cheng Bao built its name on rock crawlers, and road-car tuning is uncharted territory for the brand, clever suspension hardware or not.

Shooting brakes remain a niche taste even in China, and at this price the Formula S walks straight into the Xiaomi SU7, the Tesla Model 3, and BYD's own Han. Whether the Panamera leopard can win buyers beyond the off-road faithful, the crowds at Chengdu will offer the first honest answer.