Chinese EV maker BYD will showcase its premium brand's first sedan at the Beijing auto show from Thursday, in a challenge to the likes of Germany's Mercedes-Benz which three years ago pulled out of the brand's development citing slow sales.
BEIJING, April 25 - Chinese EV maker BYD will showcase its premium brand's first sedan at the Beijing auto show from Thursday, in a challenge to the likes of Germany's Mercedes-Benz which three years ago pulled out of the brand's development citing slow sales.The car will complement Denza's N7 and N8 SUVs and D9 multipurpose vehicle, whose surging sales have contributed to BYD's EV domination at the expense of legacy foreign automakers.
Denza's success is central to BYD's goal of being a global major rivalling long-time leaders such as ToyotaThe upmarket push is also needed to increase profitability while the price war squeezes margins of mainstream models. A subsequent EV boom and BYD's decision to stop building petrol-only cars three years ago has seen the automaker grow rapidly, backed by technology developed in-house covering aspects as varied as battery, chassis and autonomous driving.
For comparison, BYD's best-selling Dynasty and Ocean series of cars are priced at 69,800 to 331,800 yuan. They made up the bulk of sales in January-March whereas premium accounted for 6%.BYD's premium vehicles boast nappa leather seats and crystal-embedded gear sticks, as well as technology such as an active suspension feature developed in-house and assisted driving features not available in its BYD-branded models.
A selling point of the Denza Z9GT is having the smallest turning circle of any other vehicle, which is useful when driving on narrow streets and in confined parking lots. Yangwang cars can float should an accident leave them in a body of water. That also allows BYD to lower prices even for new premium models to boost appeal, in contrast to major foreign brands that tend to discount only to boost sales of aging cars, Zhang said.
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