Denza, an electric vehicle subsidiary of BYD, officially released a winter test video on February 13, showing off two new SUV models for the first time. The video shows the five-seat SUV N7 and the medium and large-sized SUV N8, which are expected to be released within the year.
In January this year, Denza said that it will gradually launch new SUV models throughout 2023, and create more products that can compete globally for more users in need by further improving its product matrix.
In addition, Denza will launch new sedans. Zhao Changjiang, general manager of Denza’s Sales Division, said when interacting with netizens on Twitter-like Weibo that the Denza N7 will be released in the first half of this year and a sedan will be unveiled next year.
Recently, this brand has been involved in discussions with a vehicle rental company in Shenzhen. Wu Jianming, founder of IGO, criticized the Denza model’s battery. He said that the company negotiated with BYD for 4 years, but so far it has not received a reasonable response.
According to the firm founder, IGO purchased 1,033 Denza 300 models from BYD in August 2016 and May 2017 for leasing based on hourly or daily rates. However, since 2019, most of the vehicles have experienced battery failure and, in general, have shown a decrease in battery life.
IGO said that since March 2019, the company has been negotiating with BYD on the quality and after-sales service, but so far no response and treatment have been received, resulting in forced shutdowns and idleness of vehicles while losses have amounted to more than 600 million yuan ($87 million). On the evening of February 12, Denza issued a notice saying that the contents mentioned by IGO were disputed due to the wording of the contract, which is still in legal proceedings and has not yet been settled.
In fact, IGO has been facing tremendous financial pressure. Commercial information query platform Tianyancha shows that there are 255 risk information and 6 legal proceedings about the company. In addition to the liability dispute with Denza, it is also involved in a bankruptcy creditor’s rights confirmation dispute with other two automakers in China.