Electric carmaker BYD debuted a new luxury sedan model at the weekend as part of the company’s efforts to shift its focus away from the competitive low-end car market.

The G61.5TID DCT sedan is a high-end flagship vehicle powered by the company’s proprietary technology. Company sources said BYD is shifting its priority from budget vehicles to mid-range cars.

BYD, which is based in Shenzhen, saw its profits fall 45% in 2011. The company said that its profitability might continue to be jeopardised by the dampening of its rechargeable battery and solar businesses.