BYD's Wang Chuanfu on Denza The First New Energy Luxury Brand in China

TapTechNews August 20th news, at the press conference held tonight, Wang Chuanfu, the founder, former chairman and president of BYD, said that Denza is the first luxury brand in the history of Chinese automobiles to focus solely on new energy, and also the first new car-making force in China. (TapTechNews note: Denza was jointly established by BYD and Mercedes-Benz in 2010).

According to BYD's data, as of the first half of this year, in the Chinese luxury market, the share of Chinese brands has increased to 34.7%.

Here, Wang Chuanfu also demonstrated the seven major Chinese luxury brands recognized by BYD: Hongqi, Lantu, NIO, Li Xiang, AITO, Avita, Denza. Wang Chuanfu said that Chinese brands have 'great potential' in the new energy luxury market.

Wang Chuanfu said that in May 2022, Denza launched its first luxury MPV, Denza D9. With its precise product positioning and leading product power, Denza D9 surpassed traditional luxury brands and became the annual sales champion of the MPV market in 2023.

Wang Chuanfu said that behind these achievements, first of all, thanks to the strong support of Mercedes-Benz, which has allowed Denza to carry the background and genes of luxury since its birth; and also allowed BYD to draw on the valuable experience of establishing a luxury brand.