BYD launches Denza N7 SUV, a potential rival to Tesla's Model Y
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Chinese EV manufacturer BYD (OTCPK:BYDDF) launched its new sport utility vehicle Denza N7 at an event in Beijing on Monday night, which will be in direct competition to Tesla's (TSLA) Model Y.
The new N7 SUV under the Denza brand has six variants priced in the range of CNY 301,800 â CNY 379,800 ($41,600-$52,400). Tesla's (TSLA) Model Y prices range from CNY 263,900 to CNY 363,900, according to the company's China website.
Labeled as a "smart luxury hunting SUV", the Denza N7 is set to be officially launched on July 3. Deliveries are expected to start mid-July, with about 3,000 units expected to be delivered in July and 6,000 units in August.
As of June 26, pre-orders for Denza N7 had exceeded 20,000 units. Mercedes Benz (OTCPK:MBGAF) (OTCPK:MBGYY) owns 10% of the Denza brand.
BYD (OTCPK:BYDDF) sold 253,046 new energy vehicles in June, a 5.3% increase from last month.
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