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BYD’s Denza brand, a Chinese electric car giant, is set to launch its new all-electric SUV, the Denza N7, directly competing with Tesla’s Model Y. The company announced that it has already received over 20,000 pre-orders for the N7 and revealed a price range of 301,800 yuan to 379,800 yuan ($41,680 to $52,452). These prices rival Tesla’s Model Y, which currently ranges from 263,900 yuan to 363,900 yuan. Deliveries of the Denza N7 are expected to begin in about two weeks.
According to Tu Le, the founder of advisory firm Sino Auto Insights, the Denza N7 targets the premium midsize crossover segment and competes with Tesla’s Model Y and Nio’s ES6. BYD aims to showcase its rejuvenated brand through this product launch and apply pressure to its competitors in the market.
During the launch event, BYD highlighted positive reviews from local car media and showcased test drives. The event’s livestream on Weibo, the Chinese social media platform, garnered nearly 2 million views, indicating significant interest. Following Nio’s strategy, the Denza N7 launch included a live music performance.
Notably, Mercedes-Benz Group holds a 10% stake in the Denza brand. Denza’s previous electric model, the D9 multi-purpose vehicle, has been achieving monthly sales of over 10,000 units since March. The brand representative mentioned plans to release the D9 in Thailand, Hong Kong, Macao, and Europe, without specifying exact dates.
The Denza N7 boasts various tech features, including fast battery charging, in-house driving assist technology, and a range of in-car entertainment options. It positions itself as the first luxury SUV to compete with the high-end German brands, Benz, BMW, and Audi (referred to as BBA). The N7 offers data privacy features, augmented reality head-up display, shock absorption technology, and driver-assist technology powered by Qualcomm and Nvidia chips.
Yang Dongsheng, BYD’s vice president, emphasized the car’s connectivity with the Android smartphone operating system. The Denza N7 aims to captivate the Chinese electric car market with its advanced features, challenging established players like Nio and Tesla.
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