Denza has launched the D9 MPV in Singapore, after introducing the model to Hong Kong and Cambodia.

Denza, the premium new energy vehicle (NEV) brand of BYD (HKG: 1211, OTCMKTS: BYDDY), has entered the Singapore auto market, as it expands its footprint in the international market.

Denza launched the right-hand drive version of its D9 MPV (multi-purpose vehicle) at an event in Singapore yesterday, offering two variants with starting prices of S$296,888 ($227,356), and S$341,888 respectively.

The D9, the first model under the refreshed Denza brand, went on sale in China in August 2022, with deliveries beginning in October of the same year.

Denza launched the 2024 D9 MPV in China on March 6, offering the D9 DM-i with BYD's hybrid technology and the all-electric D9 EV, at a starting price of RMB 339,800 ($48,030).

The model's higher price tag in Singapore is largely due to the high cost of owning a car as well as the import tax rate.

So far this year, Denza has entered countries and regions including Cambodia and Hong Kong, the brand's head of sales, Zhao Changjiang, said today, adding that Denza will open stores in Macau, Thailand, Malaysia and Indonesia by the end of this year.

Denza was initially set up in February 2011 as a joint venture between BYD and Daimler, with each holding a 50 percent stake, as China's first Sino-foreign joint venture focused on NEVs. In February 2022, the Daimler brand was rebranded as Mercedes-Benz.

BYD's stake in Denza increased to 90 percent in 2022, and last month BYD bought the remaining 10 percent of Denza from Mercedes-Benz.

Denza entered the Hong Kong market in June, launching the D9 in the city, marking the beginning of its exploration of international markets.

On July 14, Denza opened its first flagship showroom in Cambodia and made the first delivery of the D9 MPV to local consumers.

On October 8, BYD signed an agreement with its Malaysian distributor, Sime Darby Motors, to bring Denza-branded models to the local market.

Denza sold 10,299 units in September, down 21.72 percent year-on-year but up 3.10 percent from August, according to data released on October 1.

So far this year, Denza has sold 90,193 vehicles, down 2.57 percent year-on-year, according to data compiled by CnEVPost.

($1 =SGD 1.306, $1 = RMB 7.0742)

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