- BYD's sales keep expanding quickly across Europe.
- Mercedes-Benz played a key role in establishing Denza, and now they are broadening their reach.
- The Denza Z9 GT could take on the likes of Porsche, BMW, and more
Over the last four years, BYD has progressively boosted its sales beyond China’s borders, particularly within Europe and certain areas of Southeast Asia. However, in recent months, these numbers have surged impressively.
Now, the company says it is so confident in European buyers making the switch to electric that it is set to introduce its premium brand, Denza, into markets that are more typically dominated by Mercedes-Benz, Porsche, Audi, and BMW.
During a glitzy unveiling during Milan’s Design Week, BYD’s special adviser for Europe, Alfredo Altavilla, said that Denza would act as the “technological forerunner for the group,” according to Reuters .
This means that its range-topping all-electric Z9 GT sport wagon could well be heading to European shores, complete with 1,000hp on tap, five interior screens, dual refrigerators, and, in some variants, the ability to ‘crab walk’ (drive diagonally) and perform tank-turns on the spot.
BYD revealed this week that in the UK alone, it has sold more cars in the first quarter of 2025 than it did in all of 2024, rapidly becoming Britain’s fastest-growing car brand.
Likewise, the anticipated doubling of its European sales is expected this year.
Worldwide, the corporation sold more than 4.2 million vehicles in the previous year, establishing itself as the premier rival to challenge Tesla. Additionally, it surpassed Musk’s sales figures by approximately 100,000 units in the fourth quarter of 2024.
To exacerbate the situation further, it also revealed its 1MW charging network , capable of adding 249 miles of range to its electric vehicles in merely five minutes — surpassing Tesla's V3 Superchargers significantly.
Denza, previously a 50:50 joint venture with Mercedes-Benz but now fully owned by BYD, contributed only 3% to the group’s total sales in China. Nevertheless, as it aims at a more affluent customer base, it could potentially introduce a new income source for the company.
According to Reuters The brand has not disclosed its business plan for Europe yet, but they have mentioned that the initial Denza vehicle will carry a higher price tag compared to the present top-of-the-line BYD model priced at €72,000 (approximately $78,790 or AU$130,596).
The lineup might also feature the D9 minivan, multiple SUVs, and off-road vehicles.
Cracking into the luxury market is no easy feat.
The recent achievements of BYD can primarily be attributed to the Chinese firm's ability to provide good quality EVs At quite affordable pricing, frequently equipped with enhanced range and superior internal tech compared to numerous direct competitors.
Shoppers in this market usually have a budget in mind when making purchases instead of being particularly brand loyal. This viewpoint has been recently reiterated by Dacia’s leader, Denis Le Votốtin , who has observed that his budget-friendly brand has started drawing customers away from more well-established companies in recent years.
At the high-end segment of the market, things look quite distinct because these consumers usually prefer well-known brands when spending their carefully saved dollars.
Consider South Korea's Genesis as an illustration. This luxury brand under the Hyundai Motor Group enjoys popularity in both its home market and the U.S., achieving one million global sales in 2023. However, it only managed to sell 1,210 vehicles in the UK in 2024, capturing merely 0.06% of the market share.
Compare this with BMW, Audi, and Mercedes-Benz, each of which holds a 5% or 6% share of the same market and managed to sell over 100,000 vehicles last year.
Certainly, their product lineup is more extensive and caters to multiple price levels. Nonetheless, thriving as a specialized luxury electric vehicle brand isn’t straightforward. The French automaker DS, which operates under Citroen, likewise sold approximately 1,152 vehicles in the UK during 2024.
Although BYD is achieving remarkable sales growth abroad, its luxury division, Denza, could face some challenges in attracting customers.
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