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BYD Co., China’s best-selling car brand, unveiled a new electric sport utility vehicle — the Denza N7 — at a glitzy event in a former factory in Beijing on Monday night, stepping up its push into the premium sector. 

The model, which comes in six versions, has a starting price of 301,800 yuan ($41,680), which Morgan Stanley noted was pretty much in line with market expectations for 300,000 yuan.