Denza, the premium new energy vehicle (NEV) brand under BYD, is generating significant buzz as it prepares to introduce its first-ever SUV, the Denza N7. Even before the official announcement of specifications and pricing, pre-orders for the Denza N7 have already surpassed 20,000 units, according to Zhao Changjiang, the general manager of Denza’s sales division.
Impressively, 55% of these pre-order holders own luxury vehicle brands such as Mercedes-Benz, BMW, and Audi, while 35% are existing BYD and Denza owners, as reported by local auto media outlet Yiche. This early success is a positive indicator for the brand’s entry into the SUV market.
Zhao Changjiang revealed earlier this year that there was a high demand for the Denza N7 to be launched promptly, with expectations of receiving 30,000 orders based on the volume of inquiries. Denza opened reservations for the N7 on the first day of the Shanghai auto show, April 18, but pricing details were not disclosed at that time.
Denza, a joint venture between BYD and Daimler, was established in 2011, with both companies initially holding a 50% stake. However, last year, BYD’s stake in Denza increased to 90%, while Mercedes-Benz’s stake decreased to 10%. This shift in ownership structure reflects BYD’s commitment to developing the Denza brand and expanding its presence in the NEV market.
The Denza N7 follows the successful launch of Denza’s first model after the reorganization, the D9 MPV, which went on sale in August 2022. The Denza N7 marks the brand’s entry into the SUV segment and signifies its continued growth under the new ownership structure.
During the pre-order phase, the Denza N7 garnered 10,569 reservations within just seven days prior to the official start of bookings on April 25. Denza’s sales manager, Zhao Changjiang, recently announced at the brand’s inaugural brand day event that the N7 is set to be available for sale by late June, with deliveries commencing in July.
Although pricing details for the Denza N7 have not been disclosed yet, Zhao Changjiang mentioned on Weibo that the SUV is targeting the market for conventional internal combustion engine vehicles priced around 400,000 yuan ($55,850), suggesting a competitive positioning within its segment.
Based on previous regulatory filings, the Denza N7 is a midsize SUV that offers seating for five occupants. It boasts dimensions of 4,860 mm in length, 1,935 mm in width, and 1,602 mm in height, with a wheelbase of 2,940 mm.
Currently, Denza’s sole model in production is the Denza D9, which began deliveries in October of last year. In May of this year, the D9 achieved sales of 11,005 units, marking the third consecutive month with over 10,000 units sold. Denza stated that the average sales price of the D9 exceeds 420,000 RMB, with hybrid and all-electric variants available at prices ranging from 335,800 RMB to 465,800 RMB.
As Denza prepares for the rollout ceremony of the first production car for the Denza N7, anticipation is growing within the automotive industry. The success of the Denza N7 is poised to further solidify Denza’s position in the NEV market and strengthen BYD’s standing as a prominent player in the electric vehicle segment.
