I'm LongbridgeAI, I can summarize articles.BYD is intensifying its hiring efforts, particularly from Porsche, to enhance its Denza line in Europe as it seeks to enter the competitive luxury car market. The company has already recruited over 50 individuals, including ex-Porsche executive Lorenzo Soravia, to strengthen its sales and marketing team. Denza recently launched two models, the Z9GT and D9, targeting the premium segment dominated by brands like Porsche and BMW. BYD aims to establish around 150 sales points in Europe by the end of next year, marking a significant expansion in the region.
[PARIS] BYD is stepping up hiring from rivals, including Porsche, to bolster its Denza line in Europe as the Chinese manufacturer tries to break into the region’s contested luxury-car market.
Denza has already onboarded more than 50 people to build up its European sales and marketing team, said Alfredo Altavilla, a former Fiat Chrysler Automobiles manager who now advises BYD. They include ex-Porsche sales executive Lorenzo Soravia.
BYD’s Denza is pursuing growth in a market dominated by Porsche, BMW and Mercedes-Benz Group. On Wednesday (Apr 8), the brand introduced two models for the region, including the roughly 100,000 euros (S$148,630) flagship Z9GT that competes with Porsche’s Taycan electric vehicle. The other is the D9, a luxury van that’s been popular with executives in China.
“Denza has a chance to succeed where other premium brands failed,” Altavilla said. The number of hires from Porsche is “telling” of the challenges the region’s legacy automakers face, he added.
European manufacturers are grappling with poor sales of their priciest EVs and muted demand in China, where competition from local brands is intensifying. With production mostly in Europe, they are also impacted by tariffs in the US – a market that’s been effectively closed to their Chinese rivals. BYD, meanwhile, is accelerating exports amid slumping deliveries at home.
Denza’s European foray marks a pivotal moment for BYD chairman Wang Chuanfu, who bought out Mercedes from the joint venture in 2024 and is now expanding in the former partner’s home market. By selling higher-margin vehicles, BYD can better absorb the costs of European Union tariffs that weigh on the profitability of its cheaper imports.
The Z9GT, which will be offered as a full EV and plug-in hybrid, has a battery that charges from 10 per cent to 97 per cent capacity in nine minutes. It can make the sprint from zero to 62 miles per hour in 2.7 seconds. The plug-in hybrid D9, which starts at around 70,000 euros, comes with massage seats and an on-board refrigerator.
Over the past two years, BYD has poached dozens of executives from major European manufacturers to strengthen its expansion. They include ex-Stellantis managers such as former UK head Maria Grazia Davino, Italy executive Alessandro Grosso and Alberto De Aza, who previously was managing director for Peugeot in Spain and Portugal. Dorothee Bonassies, formerly Volkswagen’s head in France, was hired by BYD as France country manager late last year.
Soravia is overseeing the brand’s sales activities in southern Europe after holding a similar role at Porsche. He’s also held sales positions at Mercedes and Lamborghini. Denza in December hired Andrea Moia from Maserati to oversee its Iberia sales.
Denza wants to open around 150 sales points in Europe by the end of next year. The brand’s retail network will be separate from BYD’s.
To celebrate the launch, BYD rented the Opéra Garnier in Paris on Wednesday, with executive vice-president Stella Li welcoming guests on the grand staircase decorated with white and pink flowers.
“Penetrating the premium market in Europe is very complicated for anyone,” Altavilla said. “We want to make Denza customers feel pampered from the first moment they interact with us.” BLOOMBERG