BYD Launches Most Direct Tesla Competitor To Date

BYD Vice President Yang Dongsheng speaks at the Denza N7 electric SUV launch event in Beijing on July 3, 2023.

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Beijing — China’s electric car giant BYD launches its most direct competitor to date, a new electric SUV. Tesla■ Model Y.

BYD’s Denza brand announced on Monday night that it has received more than 20,000 pre-orders for its all-electric N7 SUV, with prices ranging from 301,800 to 379,800 yuan ($41,680 to $52,452). ) announced.

According to the company’s Chinese website, it’s comparable to Tesla’s Model Y. The latest price of the Model Y is said to range from 263,900 yuan to 363,900 yuan.

According to the company, deliveries of the Denza N7 will start in about two weeks.

“The Denza N7 is the Tesla Model Y and Nio ES6,” said Tu Le, founder of Beijing-based advisory firm Sino Auto Insights.

“Denza has been completely out of the spotlight in recent years, but BYD is poised to show off a rejuvenated brand, and the media onslaught shows their confidence in their products and their willingness to continue to put pressure on incumbents. It shows,” he said.

At its just over an hour-long launch event on Monday, BYD showed clips of positive reviews from local auto media during test drives.

A livestream of the event garnered nearly two million views on China’s Twitter-like platform Weibo alone. It has well over 200,000 views Drawn in a livestream from the Nio car launch in late 2021.

Another page in Nio’s playbook featured live music following the Denza N7 launch in Beijing.

The Mercedes-Benz Group 10% stake under the Denza brand. Its predecessor, the electric model, the D9 utility vehicle, has recorded more than 10,000 monthly sales since March. The car is sold in Thailand and will be launched in Hong Kong, Macau and Europe, a brand representative said on Monday, without giving a date.

technical features

From fast battery charging and in-house driver-assist technology to a range of in-car entertainment, the Denza N7 launch showcases features that put it in fierce competition with those offered by Nio, Tesla and other big players in the Chinese electric vehicle market. I was.

“The Denza N7 is the first luxury SUV to penetrate the BBA market,” said the English-language slides from the launch event, referring to German luxury brands Benz, BMW and Audi.

In a face-to-face presentation on Monday, Denza’s sales manager Zhao Changjiang mentioned the N7’s data privacy features, including independent chip storage and the ability to turn off the camera.

The Denza N7 also claims to have an augmented reality head-up display that uses AR technology to digitally project information on the road in front of the driver.Specific models include BYD’s new shock absorption technology It delivers a smoother ride that domestic rivals have yet to sell.

Yang Dongsheng, vice president of BYD, touted the driver assistance technology as follows: Qualcomm Chip and Nvidia Orin is often used for driving assistance systems. Olin not affected by US ban On Nvidia’s sale of more advanced chips to China.

Yan said the car’s cockpit is also connected to the Android smartphone operating system.

Read more about electric vehicles from CNBC Pro

Craig Zeng, chief financial officer of online car information and shopping site Autohome, said in an interview last month that in-car connectivity systems are more appealing to young people accustomed to cellphones than driver-assist technology. Told. According to CNBC’s translation of his Mandarin remarks:

Zeng said at the time that he expected competition in China’s new energy vehicle market to shift from 400,000 yuan to over 500,000 yuan. According to Zeng, the price range of 100,000 yuan to 200,000 yuan is the main price range for cars in China.

New energy vehicles include hybrid vehicles.

Electric vehicle market grows

The launch of the Denza N7 SUV was led by a major electric vehicle start-up Jump to June delivery After the recent softness. Nio recovered to over 10,000 monthly deliveries, speng We have exceeded 8,000.

Lee AutoThe car comes with a fuel tank to charge the battery and extend the cruising range, and reported that more than 32,000 vehicles were delivered in June.

Tesla sold about 42,500 cars in China in May, according to the latest figures available from the China Passenger Car Association.

BYD is still a giant in the market, he said. 128,196 units sold Battery-powered Passenger cars in June increased by 84% year-on-year. BYD Launches Most Direct Tesla Competitor To Date

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