BYD unveils upgraded flagship Denza SUV to bolster premium market push

Reuters

Mon, May 18, 2026 at 12:35 PM EDT 2 min read

Guangzhou, May 18 (Reuters) - BYD on Monday launched an upgraded version of its flagship SUV under the Denza brand at a 5% higher starting price ‌as China's largest electric vehicle maker shifts away from its low-cost image ‌and enhances profitability.

Li Hui, general manager of the Denza brand, said during an event attended by car owners ​and social media influencers in Guangzhou that the revamped model offers over 100 upgrades, including extended battery range and a fast-charging capability that BYD had previously described as setting "an industry benchmark."

The new version of the Denza N9 plug-in hybrid SUV will start at 409,800 yuan ($60,265), ‌up from the 389,900-yuan base ⁠price of its predecessor launched 14 months ago.

Including Denza, "China's new energy luxury brands have firmly positioned themselves at the center of the global ⁠luxury market," Li said, adding that 70% of Denza D9 buyers were former owners of BMW, Mercedes-Benz, or Audi vehicles in China.

Chinese automakers are gaining market share in the premium ​segment of ​the world's largest car market, driven by technology ​advancements that affluent Chinese consumers increasingly ‌favor over German-engineered alternatives.

Originally a 50-50 joint venture between BYD and Mercedes-Benz, BYD gained full ownership of the Denza brand after Mercedes-Benz gradually scaled back and exited the partnership in 2024 when the brand's sales were largely boosted by the D9 multipurpose vehicle (MPV), a competitor to Toyota's Alphard.

The MPV remains Denza's best-selling model and accounted for 45% ‌of its total retail sales in China in April, ​according to data from DCar, an information and ​trading platform.

However, competition from homegrown brands ​such as Zeekr and Voyah has weighed on sales, with DCar ‌data showing Denza's retail sales in China ​slumped by 41.5% in ​the first four months compared to the same period a year earlier.

BYD is betting on Denza to grow its high-margin export strategy. The automaker introduced the ​Denza brand in Europe with ‌a high-profile event at Paris' Palais Garnier in April and enlisted British actor ​Daniel Craig to promote the brand.

($1 = 6.8000 Chinese yuan renminbi)

(Reporting by Zhang ​Yan, Jumin Park; Editing by Aurora Ellis)