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China Electric eMobility eV Industry News price war Tesla

Chinese industry regulator says automakers should not compete with abnormal prices

Auto industry players should not disrupt fair competition with abnormal prices and should avoid cutting prices in a reckless manner, a MIIT official said.

(Image credit: CnEVPost)

Price wars are clearly not what China's main industry regulator wants to see.

An official from China's Ministry of Industry and Information Technology (MIIT) said at the 2023 China Auto Forum in Shanghai on July 6 that participants in the country's auto industry should not compete with abnormal prices, according to a report on state broadcaster CCTV today.

So far this year, the Chinese auto industry has seen the largest wave of price cuts in its history, including more than 100 models from more than 30 brands, some at any cost, the report noted.

In response to the phenomenon, the MIIT source said that the development of China's auto industry has entered a new phase, with new energy vehicles (NEVs) forming a certain lead and auto companies should regulate their marketing activities, the report said.

Auto industry players should not disrupt fair competition with abnormal prices and should avoid reckless price cuts, while strengthening technological innovation and improving product quality, the MIIT official Miao Changxing was quoted as saying in the report.

Yesterday, the China Association of Automobile Manufacturers (CAAM) and 16 major automakers jointly signed a pledge to maintain fair market order in the auto industry.

The 16 car companies include , , , , , SAIC, and Great Wall Motor, who pledged to maintain a fair competition order and not to disrupt the order in the market with abnormal prices.

The initiative is just the beginning, and further restraint on bad behavior, including malicious price cuts, will depend on self-regulation and regulatory means, Fu Bingfeng, executive vice-president and secretary general of the CAAM, was quoted by CCTV in the report today.

Separately, Xu Changming, vice director of the National Information Center, said yesterday at the 2023 China Auto Forum that Tesla's average profit per vehicle is high enough that it has ammunition if it wants to fight price wars.

Tesla has previously cut its price in China by RMB 30,000 yuan ($4,140), and its average profit per vehicle is $10,426, leaving room for a 40,000 yuan price cut if the price war continues, Xu said, according to a video circulating on social media.

The calculation is based only on Tesla's 1.31 million global deliveries last year, and if it reaches its 1.8 million delivery target this year, then costs are expected to fall further, Xu noted.

Tesla's average profit per vehicle is 8.5 times that of BYD, whose figure last year was RMB 8,854 yuan per vehicle, according to Xu.

($1 = RMB 7.2401)

Carmakers, including Tesla, BYD, Nio, Xpeng, Li Auto, pledge to jointly maintain order in China auto market

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China Electric eMobility eV Giga Shanghai Tesla Tesla Team

Tesla reportedly laying off some battery workers at Shanghai plant

Earlier this week, began notifying some employees on the battery cell assembly lines at the first phase of its plant in Shanghai about that layoff, according to Bloomberg.

(Image: Screenshot from a Tesla China video.)

Tesla (NASDAQ: TSLA) is laying off some battery production workers at its Shanghai plant, amid heavy discounts on cars from all manufacturers, Bloomberg reported today.

Earlier this week, Tesla began notifying some employees on the battery cell assembly lines at the first phase of its plant in Shanghai about the layoffs, the report said, citing people familiar with the matter.

Some employees have been allowed to move to another shop, such as stamping, painting or general assembly, the people said. It's unclear how many battery workers may be let go, or the specific reasons behind the layoffs, according to the report.

Tesla employs about 20,000 people at its Shanghai plant, which can produce about 1 million vehicles a year, the report noted.

While Tesla uses batteries made by LG Energy Solution and in its vehicles, those battery cells must be made into battery modules and packs before they can be installed in the cars, a process that is done for the most part in Tesla's battery workshop.

Some automation equipment that could help replace human labor on the battery production line is in the design and construction stages, one of the people said, according to the report.

The report did not provide more details on the layoff plan, though a local media outlet reported yesterday that more than 50 percent of the phase one battery assembly line workforce would be cut.

The layoffs are partly due to the US government's ban on subsidies for batteries imported from China, requiring local car companies to use US-made batteries, Chinese media outlet Shifang Zhixing said in a report yesterday, citing an insider.

In addition, the ample battery assembly capacity at Tesla's Shanghai plant is also a major reason for the layoffs, according to the report.

The battery assembly line in phase two has a capacity of 870 batteries on a single shift, while the day shift plus the night shift in the two battery plants can provide 3,400 batteries, more than the amount needed for vehicle production, according to the report.

Vehicle manufacturing-related jobs have not been affected by the layoffs yet, after all, Tesla vehicle sales are still strong, the report said.

Tesla sold 93,680 China-made vehicles in June, including exports, the second highest on record after 100,291 in November 2022, according to data released by the China Passenger Car Association (CPCA) on July 4.

Tesla's Shanghai plant produces the Model 3 and Model Y, and their breakdown sales figures are currently unknown.

In May, Tesla sold 42,508 vehicles in China, ranking third in China's new energy vehicle (NEV) market with a 7.3 percent share, according to the CPCA. Tesla's Shanghai plant exported 35,187 vehicles in May.

Model Y retail sales in China in May were 31,054, making it the best-selling SUV in China that month, according to the CPCA's rankings.

From January to May, Model Y retail sales in China were 152,461 units, also the best-selling SUV in China during that period.

Yesterday, 16 car companies, including Tesla, , , and , signed a pledge in Shanghai to jointly maintain order in China's auto market and not to disrupt fair competition with abnormal prices.

Earlier today, Tesla ramped up referral incentives for the Model 3 and Model Y in China to boost sales of the two models.

Tesla to equip revamped Model 3 in China with CATL's new battery, report says

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BYD BYD Dolphin China Electric eMobility eV

BYD launches Dolphin EV in Singapore

launched the Dolphin in Hong Kong in late May and brought the model to Australia and Brazil in late June.

(Image credit: BYD)

BYD (OTCMKTS: BYDDY) has launched the Dolphin in Singapore as it introduces the compact electric vehicle (EV) to more markets.

The Chinese new energy vehicle (NEV) giant held a launch event for the BYD Dolphin with Singapore dealer Vantage Automotive on July 3, its second all-electric passenger car model offered in the Southeast Asian country after the Atto 3, according to an announcement from the company today.

BYD launched the Atto 3 in Singapore in 2022, and the model was the top-selling all-electric vehicle in the region in the January-May period, according to James Ng, managing director of BYD Singapore.

The BYD Dolphin is expected to be popular with customers of all ages in Singapore and will enter the lives of more Singaporeans, he said.

The BYD Dolphin, which went on sale on August 29, 2021, is an all-electric compact car with a current starting price of RMB 116,800 ($16,120) in China.

The model is the first to be built on BYD's pure electric platform e-Platform 3.0 and is equipped with a blade battery.

The BYD Dolphin currently has a starting price of S$156,888 ($115,990) in Singapore, a price that includes COE (Certificate of Entitlement), which gives residents the right to own and use the vehicle in Singapore.

This is the latest market that the Dolphin has entered, with the model entering the Hong Kong market in late May and Australia and Brazil in late June.

BYD sold 253,046 NEVs in June, up 88.79 percent from 134,036 units in the same month last year and up 5.34 percent from 240,220 units in May, according to data released earlier this month.

In June, BYD sold 10,536 NEVs in overseas markets, up 3.26 percent from 10,203 units in May.

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BYD launches Dolphin in Brazil, enters South African EV market with Atto 3

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BYD CAAM China Electric eMobility eV Industry News Li Auto Nio Tesla XPeng

Carmakers, including Tesla, BYD, Nio, Xpeng, Li Auto, pledge to jointly maintain order in China auto market

These car companies have pledged to regulate their marketing activities and not to disrupt the order of fair competition in the market with abnormal prices.

(Image credit: CnEVPost)

More than 10 car companies, including major electric vehicle (EV) startups, have pledged to jointly maintain a fair market order in China's auto market, at a time when the EV industry is growing rapidly.

At the 2023 China Auto Forum in Jiading, Shanghai, today, the China Association of Automobile Manufacturers (CAAM) and 16 major automakers signed a pledge to uphold fair market order in the automotive industry.

This is to maintain a good auto market order, jointly create a good consumer environment, and actively stabilize and promote auto consumption, they said at the conference.

The car companies that signed the commitment include:

China FAW, Dongfeng Motor, SAIC, Changan Automobile, BAIC, GAC, China National Heavy Duty Truck, Chery, JAC, , Great Wall Motor, , , , , and .

The following is the main content of the commitment letter:

First, we will abide by the rules and regulations of the industry, regulate marketing activities, maintain a fair competition order, and not disrupt the fair competition order of the market with abnormal prices.

Second, we will pay attention to marketing methods, will not exaggerate or conduct false marketing, not to mislead consumers to attract attention and increase customer acquisition.

Third, we will put quality first, use quality-oriented, high-quality products and services to meet the people's needs for a better life.

Fourth, we will actively fulfill our social responsibility, and take an active role in helping to stabilize economic growth, increase confidence and prevent risks, and work together to make a contribution to national economic growth.

It should be noted that the commitment is self-regulatory and not legally binding, and it was signed after the price war at the beginning of the year and the emergence of a war of words between several EV companies and their supporters.

Since early March, a rare price war has erupted in China's auto industry, which has not boosted sales but has instead triggered a wait-and-see mood among consumers, resulting in car sales not seeing an increase.

On March 22, the CAAM called for the hype about price cuts in China's auto industry to cool down to return the industry to normal operation and ensure healthy and stable development of the industry throughout the year.

After that, the price war in China's auto industry gradually subsided.

It is worth noting that although these car companies pledged today not to disrupt the fair order with abnormal prices, it does not mean that they cannot cut prices when facing future challenges.

Local brands expected to capture over 50% of China's auto market for 1st time this year, AlixPartners says

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BYD China Deliveries Electric eMobility eV EV Data Insurance Registrations Li Auto Nio Tesla Weekly Data XPeng

China NEV insurance registrations for week ending Jul 2: BYD 54,000, Nio ES6 1,900

The Model Y was the best-selling new energy SUV and the Model 3 was the best-selling new energy sedan in China last week.

(NASDAQ: LI) yesterday shared the insurance registrations of some of the car companies last week to showcase its leadership among the new car-making brands.

Local auto media outlet Dongchedi then shared the rankings they produced, providing more details.

It should be noted that the two shared slightly different data on a few of the car companies' numbers, although the differences were minor, which may have to do with their rounding practices.

In the week between June 26 and July 2, (OTCMKTS: BYDDY) had the highest number of new energy vehicle (NEV) insurance registrations in China at 54,000, according to what Dongchedi shared.

Tesla was in second place at 17,300 units. Tesla was 17,400 units in the data shared by Li Auto yesterday.

was in third place with 11,600 units last week, and Li Auto was fourth with 6,500 units.

Volkswagen's NEV sales were 3,900 units last week, ranking 8th, according to Dongchedi.

When considering only Chinese brands, BYD, GAC Aion and Li Auto were the top three, with (NYSE: NIO) in sixth place.

The Tesla Model Y was the best-selling new energy SUV in China last week with 10,800 units sold. BYD Yuan Plus and BYD Song Plus DM-i were second and third, respectively, with 6,200 and 5,700 units sold.

Li Auto's Li L7 sold 2,800 units last week, ranking 7th.

Nio's ES6 was No. 10 at 1,900 units. The new ES6 was officially launched on May 24 and still seems to be in the capacity ramp-up phase.

The Tesla Model 3 sold 6,400 units last week and was the best-selling new energy sedan in China, according to data shared by Dongchedi.

BYD Dolphin came in second with 6,100 units and GAC Aion S was third with 6,000 units.

China NEV insurance registrations for week ending Jul 2: Tesla 17,400, Li Auto 6,500, Nio 4,100

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Battery Data Battery News BYD CALB CATL China Electric eMobility eV Gotion High-Tech Monthly Data SNE Research Tesla

Global EV battery market share in Jan-May: CATL 36.3%, BYD 16.1%

's battery installed base grew 59.6 percent year-on-year in January-May, while 's grew 107.8 percent year-on-year, according to SNE Research.

China's CATL and BYD (OTCMKTS: BYDDY) continued to dominate the global power battery market in the January-May period, the latest figures show.

From January to May, total global battery consumption for electric vehicles (EVs) was 237.6 GWh, up 52.3 percent from 156.0 GWh in the same period last year, according to data released today by South Korean market research firm SNE Research.

CATL installed 86.2 GWh of batteries in January-May, up 59.6 percent from 54.0 GWh in the same period last year.

The Chinese power battery giant continues to rank first in the world with a 36.3 percent share and remains the only battery supplier in the world with a market share of more than 30 percent.

This is up from its 34.6 percent share in the same period last year and up from its 35.9 percent share in the January-April period.

CATL's batteries are installed in many major passenger EV models in China's domestic market, such as the Model 3, Model Y, SAIC Mulan, Y, and ET5, as well as Chinese commercial vehicle models, and continue to grow steadily, SNE Research said.

BYD installed 38.1 GWh of power batteries from January to May, up 107.8 percent from 18.4 GWh in the same period last year.

The company ranked second with a 16.1 percent share from January to May, up from 11.8 percent in the same period last year and unchanged compared to January-April.

BYD has gained popularity in China's domestic market with its competitive pricing by establishing a vertically integrated supply chain management, including battery self-sufficiency and vehicle manufacturing, SNE Research said.

With the launch of the Atto 3 model, BYD showed explosive growth by expanding its market share outside of China in Asia and Europe, SNE Research said.

LG Energy Solution installed 33.0 GWh of power batteries from January to May, up 56.0 percent year-on-year.

The South Korean company ranked third in the world with a 13.9 percent share, slightly up from 13.6 percent a year ago and down from 14.1 percent in the January-April period.

Panasonic of Japan ranked fourth with an 8.0 percent share, SK On of South Korea ranked fifth with 5.2 percent share and CALB of China ranked sixth with a 4.3 percent share.

Samsung SDI of South Korea, China's Gotion High-tech, Eve Energy, and Sunwoda ranked seventh, eighth, ninth, and tenth respectively, with 4.2 percent, 2.2 percent, 2.2 percent, and 1.6 percent shares in January-May.

It is worth noting that CALB's power battery installed base of 10.2 GWh continued to be higher than Samsung SDI's 9.9 GWh in January-May.

From January to March, CALB's 5.7 GWh was lower than Samsung SDI's 6.5 GWh. From January to April, CALB's 8.4 GWh exceeded Samsung SDI's 7.5 GWh.

In 2023, Chinese companies are expected to push into overseas markets such as Europe, preparing for a gradual decline in growth in China's domestic market, SNE Research said.

Europe is the largest EV market after China and is aggressively implementing environmental policies, so it is highly likely to be the biggest battleground in the future, according to SNE Research.

In the future, the proportion of LFP batteries in Europe is expected to increase as Chinese companies enter the European market in earnest, the report said.

Nio starts to get cells from WeLion, as deliveries of 150-kWh batteries set to begin in Jul

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BYD BYD Brazil BYD Global China Electric eMobility eV

BYD to build industrial complex with three plants in Brazil

will invest $620 million in the facility, which will include an electric bus and truck chassis plant, a new energy passenger car plant, and a processing plant specializing in LFP battery materials.

(Image credit: BYD)

BYD (OTCMKTS: BYDDY) will invest hundreds of millions of dollars in Brazil to build an industrial complex as it steps up its efforts to expand in international markets.

The Chinese new energy vehicle (NEV) maker will set up a large production base complex of three plants in Brazil, BYD and the Brazilian state government of Bahia jointly announced on July 4, according to a statement.

The facility is located in the Brazilian city of Camacari, with a total investment of 3 billion reais ($620 million), according to a statement from BYD today.

The industrial complex includes a production plant for electric buses and truck chassis, a new energy passenger car production plant, and a processing plant specializing in lithium iron phosphate (LFP) battery materials.

The new energy passenger car production line will be able to produce pure electric and plug-in hybrid models with a planned annual capacity of 150,000 units.

The LFP battery material processing plant will utilize local port resources to meet the growing demand for new energy products in the global market, BYD said.

The industrial complex is scheduled to start production in the second half of 2024 and is expected to create more than 5,000 local jobs, according to the BYD statement.

The creation of a large production base complex in Brazil is an important milestone in BYD's development in the Americas market and will help accelerate the penetration of NEVs there, said BYD Americas president Stella Li.

In October 2022, BYD signed a letter of intent with the Bahia state government to build a vehicle production facility in the industrial area left behind by Ford after it closed its plant outside the city's capital, El Salvador.

The Bahia state government said at the time that BYD would build electric bus and truck chassis, as well as electric and hybrid cars, at three plants, and would also process Brazilian lithium for car battery exports to China.

"We have been in Brazil for almost 10 years. We have experienced many political changes in this period, in addition to exchange rate fluctuations, and inflation. But I think that in the long term, Brazil has its own advantages," Li said at the time.

BYD is now bringing its passenger cars to international markets, launching the Dolphin in Brazil on June 28, its fifth model in the country after the Tang EV, Han EV, Yuan Plus EV and Song Plus DM-i.

In addition to NEVs, BYD is already producing photovoltaic modules in Brazil.

On October 21, 2022, the company announced that BYD Energy Brazil's cumulative production of PV modules surpassed 2 million, after five years of local operations.

Last April, BYD opened a new PV module production line at its Campinas, Brazil, plant that is compatible with all sizes of PV cells currently on the market, allowing for increased productivity and efficiency.

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BYD launches Dolphin in Brazil, enters South African EV market with Atto 3

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BYD China Denza Denza N7 Electric eMobility eV Tesla

Denza N7 gets 11,687 firm orders in 24 hours after launch

Denza officially launched the Denza N7 on July 3, targeting the market where Model Y is located with a starting price of RMB 301,800.

(Image credit: CnEVPost)

The first SUV model of 's premium new energy vehicle (NEV) brand Denza seems to have gained good initial acceptance.

The Denza N7 SUV received 11,687 firm orders 24 hours after its official launch, Denza announced on Weibo late yesterday night.

Denza is a joint venture between BYD and Mercedes-Benz, each holding a 50 percent stake at the time of its inception. BYD increased its stake in Denza to 90 percent last year.

The brand officially launched the Denza N7, its second model since rebranding, at a launch event in Beijing on July 3, with a starting price of RMB 301,800 ($44,220) aimed at the market where the Tesla Model Y is located.

Prior to the launch of the N7, Denza was offering only the D9, an MPV that went on sale in August 2022 and was officially delivered in October last year.

The Denza N7 is a 5-seat mid-size SUV with a length, width and height of 4,860 mm, 1,935 mm and 1,602 mm, respectively, and a wheelbase of 2,940 mm.

For comparison, the Tesla Model Y is slightly smaller, measuring 4,750 mm in length, 1,921 mm in width and 1,624 mm in height, with a wheelbase of 2,890 mm.

The Model Y is currently offered in three versions in China with starting prices of RMB 263,900, RMB 313,900 and RMB 363,900 respectively. The Tesla model was the best-selling SUV in China from January to May.

The Denza website currently shows four versions of the N7 with starting prices of RMB 319,800, RMB 339,800, RMB 349,800 and RMB 379,800 respectively.

All four versions are equipped with DiSus-A, an intelligent air body control system, which was unveiled by BYD on April 10 and is similar to the air suspension currently used in many high-end vehicles.

Customers who do not need the system reduce the price of the vehicle by RMB 18,000, resulting in these two Air versions priced at RMB 301,800 and RMB 321,800.

On the first day of the Shanghai auto show on April 18, Denza started pre-sales for the N7, although pricing information had not been released at that time.

In early June, Zhao Changjiang, general manager of Denza's sales division, said the Denza N7 had over 20,000 pre-orders before specifications and pricing were announced, and that 55 percent of these order holders were owners of luxury brands including Mercedes-Benz, BMW and Audi, and 35 percent were existing owners of BYD and Denza.

The Denza N7 opened for test drives on July 4 and deliveries are set to begin in mid-July.

In June, Denza delivered 11,058 vehicles, the fourth consecutive month to exceed the 10,000-unit mark, according to BYD data released on July 2.

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Denza launches N7 SUV to take on Tesla Model Y as brand gains momentum

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BYD China Electric eMobility eV Fang Cheng Bao Leopard 5

BYD’s new brand Fang Cheng Bao names debut model Leopard 5

Leopard 5 is said to be equipped with 's new powertrain DM-o, which is expected to combine the technical advantages of DM-i and DM-p.

BYD's new sub-brand Fang Cheng Bao continues to warm up with the announcement of the official name of its first model.

Fang Cheng Bao's first model is named Leopard 5 ("豹5" in Chinese), the brand said today on Weibo.

BYD officially announced the name of its Fang Cheng Bao brand on June 9, the fifth in its brand matrix after the Dynasty series, Ocean series, Denza and Yangwang.

The Fang Cheng Bao brand name literally translates to "Formula" and "Leopard," symbolizing the pursuit of a transformative rise and exploration of the digital realm, BYD said.

BYD has previously used the code SF to refer to the first model of the new brand, saying it is a hardcore SUV expected to launch this year.

BYD has not provided pricing information on Fang Cheng Bao's first model in its previews over the past few months, though CnEVPost previously learned that the model will target a market priced between RMB 400,000 ($55,410) and RMB 600,000.

Xiong Tianbo, former head of BYD auto's sales research institute, will be the general manager of the brand's sales division, leading the brand's product planning, channel sales and brand building, a company insider previously told CnEVPost.

Rumors have recently surfaced that Fang Cheng Bao's first model will be equipped with BYD's DM-o powertrain, which will be the third BYD hybrid system in addition to DM-i and DM-p.

Currently about half of BYD's monthly sales are battery electric vehicles (BEVs) and the other half are plug-in hybrid vehicles (PHEVs).

Among the PHEVs, the DM-i focuses more on fuel economy, while the DM-p focuses more on performance.

The DM-o is expected to combine the technical advantages of the DM-i and DM-p, and can provide the vehicle with a total sum range of up to 1,200 km and a total powertrain power of up to 500 kW, according to recent reports in several local media.

BYD officially names F brand Fang Cheng Bao, initial model to be launched this year

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BYD China Denza Denza N7 Electric eMobility eV Product Launch Tesla

Denza launches N7 SUV to take on Tesla Model Y as brand gains momentum

Denza has delivered more than 10,000 vehicles for four consecutive months, and with the N7 SUV targeting a larger market, it is expected to gain further momentum.

's (OTCMKTS: BYDDY) joint venture with Mercedes-Benz, Denza, which was unknown in China until a few years ago, gained momentum as BYD took a controlling stake in the company last year. Now, Denza is looking to build further on it.

Denza officially launched the Denza N7 at an event in Beijing on Monday, and the electric SUV targets the market where the Model Y sits with a starting price of RMB 301,800 ($41,680).

The Denza N7 is a 5-seat mid-size SUV with a length, width and height of 4,860 mm, 1,935 mm and 1,602 mm respectively, and a wheelbase of 2,940 mm.

For comparison, the Tesla Model Y is slightly smaller, measuring 4,750 mm in length, 1,921 mm in width and 1,624 mm in height, with a wheelbase of 2,890 mm.

The Model Y is currently offered in three versions in China with starting prices of RMB 263,900, RMB 313,900 and RMB 363,900 respectively. This Tesla model was the best-selling SUV in China from January to May.

Denza was established in 2010 as a joint venture between BYD and Daimler, with each holding a 50 percent stake at the time. In February 2022, the Daimler brand was rebranded as Mercedes-Benz. BYD increased its stake in Denza to 90 percent last year.

In August 2022, Denza launched the D9 MPV, the brand's first model after the reorganization. The Denza N7 is the second model after Denza's shareholding change and its first SUV.

Before the D9 was launched, Denza had little presence in China. With the D9 providing a new option for the MPV market, Denza has become one of the top new car-making brands in China in terms of deliveries.

In June, the Denza delivered 11,058 vehicles, marking the fourth consecutive month above the 10,000-unit mark, according to data released by BYD yesterday.

It is worth noting that these sales were contributed by the D9, while MPVs traditionally have a small total addressable market in China, only about 10 percent of the market for sedan or SUV models.

In May, retail sales of sedans in China were 851,469 units, SUVs were 795,611 units, and MPVs were only 94,983 units, according to the China Passenger Car Association (CPCA).

With the launch of the N7, Denza enters a market with significantly more space and is expected to see a further increase in sales.

The Denza N7 has received more than 20,000 pre-orders since it began accepting customer reservations on April 18, said Zhao Changjiang, general manager of Denza's sales division, at the launch event.

The Denza website currently shows four versions of the N7, with starting prices of RMB 319,800, RMB 339,800, RMB 349,800 and RMB 379,800 respectively.

All four versions are equipped with DiSus-A, an intelligent air body control system, which was announced by BYD on April 10 and is similar to the air suspension currently used in many high-end vehicles.

Customers who do not need the system can see the prices be reduced by RMB 18,000, resulting in two Air versions priced at RMB 301,800 and RMB 321,800, respectively.

The Denza N7 comes standard with BYD's signature blade battery based on lithium iron phosphate chemistry, all with a capacity of 91.3 kWh.

The two least expensive of these are the rear-wheel drive models with 230 kW of peak motor power and 360 Nm of peak torque, which can sprint from 0 to 100 km/h in 6.8 seconds. They both have a CLTC range of 702 km.

The other four higher-priced versions are four-wheel-drive models with 390 kW peak battery power and 670 Nm peak torque that can sprint from 0 to 100 km/h in 3.9 seconds. They have a CLTC range of 630 km.

Like the D9, the Denza N7 supports simultaneous charging with two charging guns, up to 150 kW when using one and 230 kW when using two.

In contrast to BYD's approach, Denza began the presentation by highlighting the N7's assisted driving capabilities, saying that the model is equipped with BYD's "Eyes of the God" driver-assisted driving system for the first time.

The Denza N7's assisted driving system includes two options, a standard version and an advanced version, the latter of which will use Nvidia's Orin-X chip with 254 TOPS of computing power.

The Denza N7 with the advanced version of the assisted driving solution will receive highway pilot assisted driving capability by the end of this year, while that capability in urban areas will become available in the first quarter of next year.

Denza did not mention information about the chip supplier for the standard version of the system, which is likely to be a lower-cost solution from a local manufacturer.

Denza N7 will be available for test drives on July 4, with deliveries starting in mid-July, Zhao said at the model's launch event.

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Denza shows interior details of new SUV N8

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