Following Tesla’s “defeat” … the Chinese BYD electric vehicle giant has already won the Chronic Tesla pioneer of Ilon Musk in electric vehicles. And now comes the turn of the conquest of the market for luxury sports cars, which today dominates Europeans, CNN says.

DenzaBy BYD’s premium brand on Wednesday caused a sensation at the Shanghai International Motor Show, with the revelation of the futuristic original Denza Z, a four-seater electric coupe, showing the company’s ambitions competing to compete with European brands, such as Mercedes.

Byd is the clear leader in the China EV industry, having overcome Tesla last year, whose quarterly results were not the best, in world sales. It continues to “build” its advantages over the American manufacturer of EV in the domestic market, where the overwhelming majority of its cars is sold.

While the main BYD brand is known for its most affordable electric and hybrid vehicles, the Denza series demonstrates the company’s ambitions to extend her portfolio And to use its extensive resources to target other sections of the market, analysts say.

Denza’s launch is coming In a vulnerable moment for Porsche, With a significant decline in its sales in China. The German luxury sports manufacturer said in its annual report for 2024 that its sales in the country decreased by 28% last year compared to 2023, an unfavorable development attributed to the “continued difficult financial situation”.

Last month, Denza’s top SUV N9 was released for sale at an initial price of 389,800 yuan ($ 53,453). By comparison, BYD’s popular SUV Song Plus, a more basic model, starts at about $ 18,500.

Byd Denza Z/ CNN

Byd continues its rise

Already China’s leading automaker has set an ambitious goal: to double its sales outside China in more than 800,000 cars in 2025.

Byd plans to maintain its advantage in costs, assembling its vehicles in local markets, its president said, according to Reuters.

The European Union imposed high duties last year on China’s electric vehicles for what it describes as unfair subsidies in the Chinese market. A 100% duty imposed by the former government of Biden last year essentially banned the US market – even before Washington and Beijing are trapped in their current trade war.

However, despite the adversity, the byd announced 60% rise to sales The first quarter of this year, selling just more than a million vehicles in the first three months of 2025 – including battery cars, hybrids and commercial vehicles, according to CNN calculations.

The company had sales of $ 107 billion for 2024, a 29% increase in the previous year, with deliveries of 4.27 million cars, including hybrids. In comparison, Tesla’s revenue in 2024 was $ 97.7 billion and delivered 1.79 million batteries. Its annual traditions decreased by 1.1%last year.

Tesla owned 6.1% of the Chinese market, according to China Passenger Car Association. BYD manufactures both battery and hybrid cars, while Tesla only manufactures only fully battery -powered electric vehicles. EV shipments EV 1.76 million BYD batteries were marginally less than those of Tesla.