Chinese electric car giant BYD set to launch its latest electric SUV, the Denza N7, which directly competes with Tesla’s Model Y. The Denza brand has already received over 20,000 pre-orders for the all-electric SUV, with prices ranging from 301,800 yuan to 379,800 yuan ($41,680 to $52,452). This puts it in direct competition with Tesla’s Model Y, priced between 263,900 yuan and 363,900 yuan. Deliveries of the Denza N7 will begin in approximately two weeks.
According to Tu Le, founder of Beijing-based advisory firm Sino Auto Insights, the Denza N7 targets the premium midsize crossover segment, competing with the Tesla Model Y and the Nio ES6. BYD is confident in its rejuvenated brand and aims to maintain pressure on its competitors.
During the launch event, BYD showcased positive reviews from local car media and shared test drive experiences. The livestream of the event on Weibo, China’s Twitter-like platform, attracted nearly 2 million views, far surpassing Nio’s previous car launch livestream with 200,000 views. Following a similar strategy to Nio, the Denza N7 launch was accompanied by a live music performance.
Mercedes-Benz Group holds a 10% stake in the Denza brand. The brand’s previous electric model, the D9 multi-purpose vehicle, has been selling over 10,000 units per month since March. It is currently available in Thailand and expected to released in Hong Kong, Macao, and Europe.
The Denza N7 launch showcased various features to compete with other leading players in China’s electric car market, including fast battery charging, in-house driving assist technology, in-car entertainment, and an augmented reality head-up display. The N7 also boasts data privacy features, independent chip storage, the ability to turn off cameras, and BYD’s new shock absorption technology for smoother rides.
BYD’s vice president, Yang Dongsheng, highlighted the driver-assist technology using Qualcomm chips and Nvidia Orin, which unaffected by U.S. bans on advanced chip sales to China. The car cockpit is also compatible with the Android smartphone operating system.