BYD's Denza N7: A Formidable Rival to Tesla's Model Y with Over 20,000 Pre-orders

The Chinese electric car giant BYD is launching a direct competitor to Tesla's Model Y.

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The Denza N7 all-electric SUV has already received over 20,000 pre-orders, indicating customer interest in the new electric SUV.

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A key feature of the model is that it allows for quicker charging and enhanced user convenience thanks to its fast battery charging technology.

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The collaboration between the Denza brand and the Mercedes-Benz Group has been highlighted by the 10% stake that the group holds in the brand.

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The Denza N7 has gained a high level of interest, with a live stream on Weibo gaining 2 million views.

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Denza aims to establish itself as a competitor to high-end German Brands like Mercedes-Benz, BMW, and Audi in the luxury SUV segment.

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The N7 appeals to customers who are privacy-conscious with its independent chip storage and the ability to turn off cameras.

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Experts from the industry predict high competition in the Chinese new energy vehicle market with rising prices above 400,000 yuan to 500,000 yuan.

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BYD has shown an 84% increase from its previous year's sales by selling 128,196 battery-powered passenger cars in June.

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