top of page

BYD Introduces Tesla Rival

Lanon Wee

On Monday, BYD's Denza unveiled its new N7 electric SUV with features and pricing that compete with Tesla's Model Y. Over 2 million viewers tuned into the launch event on Weibo, the Chinese social media network. Denza announced that the N7 will commence deliveries in just two weeks. BYD's Denza brand said Monday evening it received over 20,000 pre-orders for its N7 all-electric SUV and revealed a price range of 301,800 yuan to 379,800 yuan ($41,680 to $52,452), rivaling Tesla's Model Y whose latest prices range between 263,900 yuan and 363,900 yuan according to the company's China website. Delivery for the Denza N7 is anticipated to start in approximately two weeks, and Tu Le, the founder of Beijing-based advisory firm Sino Auto Insights, explained the SUV is "aimed squarely at the premium midsize crossover segment whose competition includes the Tesla Model Y and the Nio ES6." He noted that after laying low for a few years, BYD is now highlighting its Denza brand with a big media event.The launch event showcased local car media's favourable reviews of the product, and the Weibo livestream gained 2 million views - much higher than the 200,000 views a Nio car launch garnered in late 2021.To top it all off, a live music performance followed the Denza N7 launch in Beijing.The D9 multi-purpose vehicle by Denza, in which Mercedes-Benz has a 10% stake, has been selling more than 10,000 units a month since March.The car is currently available in Thailand, and will soon be offered in Hong Kong, Macao and certain European countries, though the brand representative did not reveal the exact dates. At the launch event of the Denza N7, the luxury SUV was revealed to be equipped with a variety of features that could rival those of the other leading players in China's electric car market, Nio and Tesla. The Denza N7 has been billed as the first luxury SUV to enter the BBA (Benz, BMW and Audi) market, and Zhao Changjiang, Denza's general manager of sales, emphasized the vehicle's data privacy advantages such as independent chip storage and the ability to deactivate cameras. In addition, the N7 is said to feature an augmented reality head-up display and BYD's shock absorption technology, which has yet to be offered by domestic rivals. With driver-assist tech from Qualcomm chips and Nvidia Orin, it is able to avoid the U.S. bans on China selling advanced chips, and further features a connected Android smartphone operating system. Those interested in electric vehicles can learn more from CNBC Pro's coverage of EV startups as they attempt to preserve their funds amidst a critical point in time. Here's a look at the current situation between Tesla and BYD, as well as the reasons why one fund manager favors the auto manufacturer backed by Warren Buffett. Additionally, viewers can watch Elon Musk's full interview with CNBC's David Faber on Twitter, discussing Tesla and technological advancements in A.I. As the fateful juncture arrives, EV startups are being careful with their finances. An investment expert has compared Tesla with BYD (the automaker backed by Warren Buffett) and has divulged why he favors the latter. CNBC's David Faber recently held an interview with Elon Musk which was broadcast on Twitter, during which the Tesla boss discussed Artificial Intelligence progress. Craig Zeng, CFO of Autohome, a car information and shopping site, revealed in a recent interview that younger generations are more drawn to in-car connectivity systems than to driver-assist technology. This is a translation of his statement in Mandarin, as reported by CNBC. At that time, Zeng forecasted that the Chinese new energy vehicle market will further extend to prices between 400,000 and 500,000 yuan, while traditionally the 100,000 to 200,000 yuan bracket has been predominant. New energy vehicles consist of hybrid-powered cars. The launch of the Denza N7 SUV marks a surge in June deliveries for major electric car startups. Nio surpassed 10,000 sales, and Xpeng eclipsed 8,000, while Li Auto, whose vehicles feature gas tanks to charge the battery for additional driving range, reported over 32,000 deliveries. In comparison, Tesla as close to 42,500 cars sold in China in May, as per the China Passenger Car Association. BYD stands as the grandest player in the electric car market, with 128,196 battery-powered passenger cars delivered in June, a rise of 84% year-over-year.

0 comments

Comments


We help clients solve critical operational, business & financial issues using innovative technologies such as Web3 & Blockchain.

Address:

20 CECIL STREET, #05-03, PLUS, Singapore 049705

2023 Intric Technologies Pte Ltd

bottom of page