China’s leading electric vehicle manufacturer, BYD, has introduced its priciest model through its Denza marque with the aim of competing against premium brands like BMW and Mercedes-Benz in the upscale automotive sector. This move comes amid escalating rivalry within China, which remains the globe's largest automobile marketplace.
On Friday, the Denza brand introduced their new six-seater SUV named Denza N9, with prices ranging from 389,800 yuan ($60,860) to 449,800 yuan. This model comes as both a plug-in hybrid and an all-electric version. Additionally, Denza offers another vehicle known as D9 MPV, launched in 2022, starting at 339,800 yuan.
The SUV will be equipped with BYD's self-developed
God's Eye
self-driving technologies and can additionally provide assistance
on-vehicle drone system
Sure, here are some paraphrased versions:
1. Both features made their debut in February as stated by the firm during an event held at its offices in Shenzhen.
2. The corporation announced these new elements in February when they hosted a gathering at their main office located in Shenzhen.
3. According to what was shared at their base in Shenzhen, both functionalities debuted back in February according to the company.
4. At their location in Shenzhen, officials from the business revealed that both items had been launched for the first time in February.
5. As communicated at their headquarter in Shenzhen, two innovations came into existence initially in February based on statements provided by the organization.
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"We aim to demonstrate to the global community that China not only has the capability to manufacture high-quality vehicles but can also establish a strong presence in the luxury car segment," stated Chairman and Founder Wang Chuanfu.
The N9 highlighted BYD's aspirations to produce high-end electric vehicles and broaden its range of products as well as its customer reach. Last year, the company sold approximately 3.84 million plug-in hybrids and battery-electric cars, securing its position at the top of this sector with roughly a 20 percent share of the worldwide EV market.
The N9 might intensify rivalry in China’s premium electric vehicle sector against players like Li Auto, Zeekr, and the Huawei-supported EV marque Aito. Additionally, smartphone manufacturer Xiaomi has joined this competitive landscape with its offerings. SU7 Ultra , a four-door sedan that outpaced the Porsche Taycan Turbo GT during a single lap at the Shanghai International Circuit and is priced at approximately one-fourth the cost of the German vehicle.
As Chinese electric vehicle manufacturers progressed upscale to target greater profit margins, they began focusing on the luxury market segment," noted Eric Han, a senior manager at Suolei, a consulting company based in Shanghai. "This assertive expansion could pose a significant challenge to brands like Porsche, Mercedes-Benz, and BMW.
Most electric vehicles in China are presently priced under 300,000 yuan and have predominantly taken over from conventional gasoline-powered cars because of their advanced battery performance, early-stage autonomous driving features, and digitized instrument clusters.
Until last year, global brands were dominant in China’s luxury vehicle market. However, domestic manufacturers Li Auto and Xpeng began making significant strides with their smart electric vehicles. According to industry statistics, sales of Mercedes-Benz automobiles decreased by 6.7 percent over the past year, BMW experienced an 13.4 percent decline, and Audi saw its delivery numbers fall by 9 percent.
In 2011, Denza was founded through a partnership between BYD and Mercedes-Benz. In January 2022, the Chinese firm acquired a 40 percent share from its collaborator to gain full control over the entity.
BYD specializes in producing electric vehicle models priced under 200,000 yuan—approximately 30 percent lower compared to high-end offerings from brands like Tesla, Nio, and XPeng. Additionally, BYD offers luxury electric vehicles through its Yangwang brand, which was launched in 2023 with prices exceeding 1 million yuan.
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