BYD, a Chinese electric car giant that sold over 128,196 battery-powered passenger cars in June, is introducing an electric vehicle that will rival Tesla’s Model Y.

According to the company, its Denza brand, in which the Mercedes-Benz Group holds a 10% stake, has received over 20,000 preorders for its N7. The all-electric SUV has a price range of $41,680 to $52,452, competitive with Tesla’s Model Y, which sells for between $36,397 to $50,189 in China.

The company expects Denza N7 deliveries to start in approximately two weeks.

During an hour-plus launch event, BYD showed clips of local car media’s positive reviews while doing test drives. The online launch highlighted Denza N7 features, which include:

• Fast battery charging

• In-house driving-assist technology

• In-car entertainment

• Data privacy features, such as independent chip storage and the ability to turn off cameras

The Denza N7 also reportedly comes with an augmented reality head-up display, which uses augmented-reality technology to project information digitally over the road in front of the driver. Some models have BYD's new shock absorption technology for smoother rides.