Coinspeaker
BYD Challenges Tesla with Release of Denza N7 Electric SUV
Chinese electric car giant BYD Co Ltd is set to shake up the market once again with the launch of its latest product, the Denza N7 all-electric SUV. Notably, this daring move positions BYD as a direct competitor to Tesla Inc‘s (NASDAQ: TSLA) very popular Model Y.
According to the announcement, the company has already received a massive response from prospective customers, with over 20,000 pre-orders for the N7. Priced between 301,800 yuan and 379,800 yuan ($41,680 to $52,452), the N7 rivals Tesla’s Model Y, whose current pricing range from 263,900 yuan to 363,900 yuan.
It is worth noting that Mercedes Benz Group AG (ETR: MBG) holds a 10% stake in the Denza brand. Denza’s previous electric model, the D9 multi-purpose vehicle, has been performing exceptionally well, with sales exceeding 10,000 units per month since March.
BYD’s Strategy
Excitement is mounting as BYD’s Denza N7 electric SUV prepares for delivery in a matter of weeks. The N7 aims to make a strong impact in the market, showcasing BYD’s commitment to providing high-quality electric vehicles.
As the electric vehicle industry expands, the midsize crossover class has grown in popularity among consumers looking for space, versatility, and performance. The Denza N7 aims to meet these demands with its premium features and advanced technology, presenting an attractive option for those considering Tesla Model Y and Nio ES6.
As part of its campaign, the company shared clips of positive reviews from local car media during test drives. This marketing strategy not only highlights the positive reception the vehicle has received but also emphasizes BYD’s commitment to transparency and building trust with potential customers.
Additionally, BYD incorporated a live music performance into the Denza N7 launch event. Overall, the Denza N7 launch event in Beijing was a smashing success, with nearly 2 million views on Weibo, the popular Chinese microblogging platform frequently compared to Twitter.
This impressive viewership significantly surpasses the 200,000 views that Nio, another prominent electric vehicle manufacturer, received during its car launch livestream in late 2021.
Distinctive Features of the BYD Denza N7
One of the key highlights of the Denza N7 is its fast battery charging technology, which enables quicker charging times and enhances the overall convenience for users. This feature is particularly important as it addresses one of the common concerns associated with electric vehicles.
In addition to charging technology, Denza showcased its in-house driving assist technology, which is designed to enhance safety and convenience on the road. This technology utilizes Qualcomm Inc (NASDAQ: QCOM) chips and Orin Platforms from NVIDIA Corp’s (NASDAQ: NVDA). These are commonly used in assisted driving systems.
Another standout feature of the Denza N7 is its augmented reality Head-Up Display (HUD). This technology uses Augmented Reality (AR) to project digital information onto the road in front of the driver, increasing the driving experience and providing critical information without diverting the driver’s attention from the road.
