Following Mercedes-Benz’s exit from the joint venture, Denza, the electric vehicle brand that was once born out of collaboration with the German automaker, has officially returned to Europe with the ambition to directly compete with Porsche, but at half the price.
Denza, established in 2011 as a joint venture between BYD and Mercedes-Benz, failed to make a significant impact in its first decade, selling only around 23,000 vehicles.
In 2023, Mercedes fully withdrew its investment, leaving BYD with complete control over Denza. Freed from the constraints of the joint venture model, BYD now aims to transform Denza into its primary weapon in the conquest of the global premium electric vehicle market, starting with Europe.
The first Denza model to be introduced in Europe is the Z9 GT. It is powered by three electric motors, producing up to 952 horsepower. The vehicle is equipped with a 100.1 kWh lithium-iron phosphate battery, promising higher performance and longevity compared to competitors using NMC batteries.
Denza Z9 GT is longer than the Porsche Taycan Sport Turismo by almost 20 cm and has a wheelbase that is nearly 23 cm larger, resulting in a more spacious and comfortable interior.
While the pricing for Europe is yet to be announced, in its home market of China, the Denza Z9 GT is priced affordably between $45,800 and $56,800 USD (approximately 1.19 – 1.47 billion VND), in stark contrast to its Porsche competitors, which start at $138,000 USD (around 3.58 billion VND). If Denza maintains this pricing strategy in Europe, it will undoubtedly be a formidable contender for the German giants.
Recently, Denza hosted a brand launch event in Milan, Italy, one of the world’s foremost design and fashion centers, clearly signaling its focus on a “premium, youthful, and technology-driven” orientation.
Following the Z9 GT, Denza is expected to introduce the D9 MPV in the European market by the end of this year. Both models will initially be produced in China, with plans to shift assembly to BYD’s upcoming factory in Hungary from October.
In addition to Denza, BYD has two other premium brands in China: Fang Cheng Bao and Yangwang. It is anticipated that Fang Cheng Bao will be integrated into the Denza ecosystem for international markets, commencing with the Leopard 5 SUV. As for Yangwang, the ultra-luxury brand competing with Rolls-Royce, its fate in Europe remains uncertain.
Denza’s choice of Europe as its first market outside of China underscores BYD’s grand ambitions. The company aims not just to capture market share but to reshape European consumers’ perception of “Chinese electric vehicles” from affordable and basic to premium, technologically advanced, and desirable.
TH (Tuoitrethudo)
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