Denza, the premium new energy vehicle (NEV) brand under BYD (HKG: 1211, OTCMKTS: BYDDY), has made a significant entry into the Singapore auto market, enhancing its global presence. At an event held yesterday, Denza introduced the right-hand drive version of its D9 multi-purpose vehicle (MPV), offering two variants with starting prices set at S$296,888 ($227,356) and S$341,888, respectively.
The D9 marks the first model released under the refreshed Denza brand, which went on sale in China in August 2022, with deliveries commencing in October of the same year. In March 2024, Denza launched the latest iteration of the D9 MPV in China, offering two configurations: the D9 DM-i featuring BYD’s hybrid technology and the all-electric D9 EV. The starting price in China for the D9 is RMB 339,800 ($48,030).
The higher price of the D9 in Singapore is primarily attributed to the substantial costs associated with car ownership in the region, including import taxes.
This year, Denza has already expanded into several countries and regions, including Cambodia and Hong Kong. According to Zhao Changjiang, the brand’s head of sales, Denza plans to open additional stores in Macau, Thailand, Malaysia, and Indonesia by the end of 2024.
Originally established in February 2011 as a joint venture between BYD and Daimler, Denza was China’s first Sino-foreign joint venture focused on new energy vehicles, with both companies holding equal stakes. Following a rebranding of the Daimler brand to Mercedes-Benz in February 2022, BYD increased its stake in Denza to 90%, acquiring the remaining 10% from Mercedes-Benz last month.
Denza made its Hong Kong market debut in June, launching the D9 in the city, which marked the brand’s initial steps toward international expansion. The company further solidified its regional presence by opening its first flagship showroom in Cambodia on July 14 and delivering the D9 MPV to local customers.
On October 8, BYD also signed an agreement with Sime Darby Motors, its Malaysian distributor, to introduce Denza-branded models to the Malaysian market, signaling the brand’s ongoing commitment to expanding its footprint across Southeast Asia.
