File Photo (NBD)

March 24 (NBD) -- Denza N7, the all-electric SUV under BYD-Mercedez Benz JV Denza, made its debut on Wednesday night.

Priced between 350000 yuan and 450000 yuan, it will be released on April 18 and be delivered starting from July, said Zhao Changjiang, general manager of the company, to National Business Daily (NBD) in an interview.

Denza N7 is the second model released by the company since BYD amped its shareholding of Denza to 90%. However, Denza still runs independently.

For example, after Denza inked a partnership with DEVIALET (a French luxury audio brand), DEVIALET audio will only be installed on the subsequent models under Denza and will not be applied to other models under BYD, explained Zhao.

Different from BYD's traditional 4S retail stores, Denza adopted a direct sale mode.

According to the plan, Denza aims to build more than 300 offline stores, with 187 stores already opened in 87 cities.

Currently, Denza has only one model --D9--for sale, which has accumulated over 60000 orders since it was launched.

With the joining of N7, which has the performance of D9 but with a lower price, Denza set its annual sales target for 2023 at 150,000 units.

However, the exact delivery amount depends on production capacity, added Zhao.