A new luxury electric vehicle co-branded by BYD and Mercedes-Benz is set to be launched before the end of the year. The new Denza EV was recently spotted testing, attracting the attention of onlookers.
Founded in 2010 as a 50:50 joint venture between Mercedes-Benz (Daimler) and BYD, Denza has transitioned to being predominantly owned by BYD at 90%, with Mercedes holding just a 10% stake. Denza was one of the first joint ventures to prioritize reducing vehicle emissions.
Initially known for its strength in battery production, BYD saw an opportunity in the electric vehicle market in China, leading to the co-branding with Mercedes-Benz. The collaboration has resulted in the launch of the new D9 MPV, among other models.
The Denza N7, designed to compete with Tesla’s Model Y, has seen a price reduction of up to 20% recently, starting at $33,150 (239,800 yuan). In comparison, the Tesla Model Y starts at $36,482 (263,900 yuan) in China.
Following the success of the Denza N7, which received 3,378 orders on its launch day, the Denza brand is now teasing its newest luxury electric vehicle offering with sleek and aerodynamic design, hinting at a sporty yet luxurious appeal.
The new Denza luxury electric vehicle promises to be a pioneer in combining Chinese new energy technology with world-class luxury sedans. Designed by Wolfgang Egger, known for his work with Audi and Lamborghini, the vehicle boasts a spirit of luxury and sophistication.
Set to go on sale by the end of the year, the new model by BYD and Mercedes-Benz is expected to play a core role in Denza’s global expansion strategy, following strong sales growth in the first quarter of 2024.
BYD continues to strengthen its position in the electric vehicle market, with significant sales growth and a focus on offering low-cost EVs to compete with traditional gasoline-powered vehicles.
The brand’s latest offering, the Seagull, comes at a competitive price of just $9,700 (69,800 yuan) as part of its strategy to capture more market share from established automakers.
FTC: We use income earning auto affiliate links. More.
