Chinese electric vehicle and power battery leader BYD has officially introduced its new electric SUV product, positioned as the most direct Tesla Model Y challenger.
BYD’s goal of beating Tesla’s Model Y is unsurprising, given that the award-winning SUV has advanced as the best-selling vehicle in Q1 2023.
The all-new Denza N7 has reportedly secured over 20,000 preorders, as per the joint venture between BYD and German automaker Mercedes-Benz (then Daimler). Notably, BYD now controls 90% of the shares, while Mercedes owns the remaining 10%.
Pricing: N7 vs. Model Y
BYD’s Denza announced that the N7’s price starts at 301,800 yuan to 379,800 yuan ($41,680 to $52,452).
That pricing indicates stronger competition with Tesla’s Model Y, which costs 263,900 yuan to 363,900 yuan, per the company’s China website.
Excitingly, the brand expects to officially start customer deliveries of the Denza N7 in as early as two weeks.
“The Denza N7 is aimed squarely at the premium midsize crossover segment whose competition includes the Tesla Model Y and the Nio ES6.”
Tu Le, Beijing-based advisory firm Sino Auto Insights founder
Tu Le further emphasized BYD’s commitment to ultimately dominate the global electric vehicle industry against its closest rivals, particularly Tesla.
“Denza has really been under the radar for a few years but BYD is ready to show off its rejuvenated brand and the media blitz points to their confidence in the product and their desire to keep pressure on the incumbents.”
Tu Le, Beijing-based advisory firm Sino Auto Insights founder
About the Denza N7
The new Denza N7 offers innovative capabilities, including fast battery charging and in-house driving assist technology.
It also boasts multiple in-car entertainment and the CTB (Cell-to-Body) technology, enabling its battery to integrate into its frame.
Giving further pressure on its rivals, BYD displayed clips of the positive reviews on N7’s test drives during Monday’s hour-plus launch event. The live stream version of the event accumulated almost 2 million views on the Chinese media platform Weibo alone.
A slide presentation at the launch event asserted that “Denza N7 is the first luxury SUV to penetrate the market of BBA.” For those unaware, it refers to the trio of luxury brands: Benz, BMW, and Audi.
Denza General Manager of Sales Zhao Changjiang also asserted at the presentation that the new electric SUV’s data privacy is similar to independent chip storage, with the capability to turn off cameras.
Apart from that, the Denza N7 will also apparently have an augmented reality head-up display. Notably, this feature employs AR tech to display relevant data for the driver. It will also be equipped with BYD’s cutting-edge shock absorption technology, ensuring a more comfortable ride.
BYD Vice President also teased that the N7’s ADAS will feature Qualcomm chips and Nvidia Orin. Moreover, its cockpit can also support Android smartphone OS integration.
Denza General Manager Zhao Changjiang announced that the brand aims to sell 10,000 N7 units a month in H2 2023. It also expects the electric SUV to account for 10% to 20% of China’s premium SUV sales in that period, Yicai Global reports.
See Also:
- Denza received 20,000 preorders for its first SUV model N7 ahead of the official launch
- Top car brands in China in May 2023 – BYD first, VW second, Toyota third
- China: Plug-in car sales topped 500,000 units in April
- BYD discloses F brand’s official name, maiden model to launch as soon as this year
- BYD prepares for sales boom with new organizational structure, report says
Denza N7’s arrival in the EV market is arguably part of BYD’s strategic move to stay competitive amid the growing delivery figures of its rivals in June. For instance, NIO’s deliveries topped 10,000 units, while XPENG surpassed 8,000 units.
On the other hand, its closest rival Tesla reported sales of more than 70,000 units in May alone.
Nonetheless, BYD managed to defend its leading position with sales of 128,196 electric passenger cars in June, indicating a substantial 84% year-on-year growth.
