BYD plans to build more luxury electric cars

The Chinese manufacturer has overtaken Tesla as the world's largest seller of electric cars

Chinese company BYD is mulling repurchasing more of its own shares, as it seeks to revive a stock price slump resulting in a 15-month low earlier this month.

BYD, the Chinese manufacturer that has overtaken Tesla as the world's largest seller of electric cars, is planning to ramp up production of more luxury models this year, boosting its credentials beyond budget-friendly cars.

The Shenzhen-based company is also mulling repurchasing more of its own shares, as it seeks to revive a stock price slump resulting in a 15-month low earlier this month. BYD's stock market performance has taken a hit as broader fears of a renewed industry price war spook investors.