2026 Denza B5 Leopard Review: Toyota should be worried, this plug-in hybrid could redefine the Australian 4×4 wagon market

The Denza B5 can reset the balance of power in the 4×4 wagon segment in Australia. It’s that simple.

To explain, Denza is the premium brand of Chinese powerhouse BYD and the B5 is the first model it well sell in Australia. It will be available for delivery as soon as late January 2026.

It enters a lucrative and sizable part of the market dominated by Toyota with the Landcruiser and Prado. Ford and Isuzu do their best to join the party with the Everest and MU-X respectively. Denza itself fancies its chances against luxury brands including BMW and Benz.

The B5 casts such a wide net because it is just so different. It is a luxury 4×4 wagon at a price that undercuts Toyota with an equipment level that outstrips the Ford and Isuzu.

It goes its own way on powertrain with a plug-in hybrid petrol set-up that will save money in urban running and when you go off-road it’s got a heap of whizz-bang technology to conquer the rough stuff.

There’s lots of unknowns at this point of course, but our learning process has commenced with a brief drive and inspection of the B5 at the Lang Lang proving ground.

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2026 Denza B5 Leopard price and equipment

There are two models in the five-door five-seat Denza B5 line-up, the B5 and the B5 Leopard flagship. The latter acknowledges that in China this car is sold by another BYD subsidiary Fangchengbao, which translates to “Formula Leopard”.

What we don’t yet know is just how much these two are going to cost. At Lang Lang Denza Australia and New Zealand Chief Operating Officer Mark Harland initially forecast both models would be under $79,990 before on-road costs. That’s the price of the new GWM Tank 500 Hi-4T.

Later though, he clarified that wasn’t locked in and maybe only the B5 would be around that price. We shall wait and see.

Even if the B5 is $80,000 and the B5 Leopard $90,000 you’re getting a lot of car for your money.

The B5 pioneered the Dual Mode Off-road (DMO) platform upon which the Shark 6 PHEV ute also sits. It comprises a 1.5-litre turbo-petrol engine, an e-motor on each axle and a 31.8kWh battery pack.

The B5s pump the outputs up to 425kW/760Nm. In China the power output is higher again, but it’s been subject to a theoretical recalculation for Australia without change to the powertrain or its performance.

The 4.8 seconds 0-100km/h time remains unchanged. Pretty stunning for vehicles that weigh in at 2897kg and 3007kg respectively. Yes, you read that right.

The B5s also add front and rear locking differentials, simulated centre diff lock (there’s no mechanical connection from front to rear wheels) and low range gearing and more driving modes. There are 16 – yes 16 – of them including one called ‘Rage’ which is for hard-core off-road challenges. Apparently it’s going to get renamed in Australia.

The Leopard alone is suspended by Disus-P hydraulic active suspension that can offer up to 310mm of ground clearance, with 220mm standard. The B5 gets orthodox steel springs and dampers.

Importantly, Denza has uprated the braked towing capacity from China’s 2500kg to 3000kg for Australia. The B5 will come with a towbar, hitch and 12-pin plug as standard. A brake controller is an added cost.

The payload is up from 325kg in China to 490kg for the Leopard and 600kg for the B5.

Standard B5 Leopard equipment Denza has confirmed for Australia includes a 15.6-inch infotainment touchscreen, 12.3-inch digital instrument panel, a 16-speaker Devialet (its French) sound system including headrest speakers, wireless Apple CarPlay and Android Auto, Nappa leather upholstery and laminated soundproof glass.

Fitted with ultra-wideband Bluetooth, the B5 can turn your smartphone and smart watches into a proximity key to lock and unlock the vehicle.

The Leopard is a 4921mm long, 1970mm wide, 1930mm tall two-box body on wheels. It has the true chunky off-road look, maybe a bit Land Rover Defender.

It rolls on 20-inch alloy wheels fitted with Pirelli Scorpion rubber, while the B5 sits on 18-inch alloys shod with Continental tyres. LED headlights, a panoramic sunroof, roof rails and a cover for the tailgate-mounted spare tyre were all fitted to the Leopard on-test.

Safety equipment includes 11 airbags, a 360 camera with a plethora of views and the usual BYD assembly of high-end driver assistants.

2026 Denza B5 Leopard: What we think

The towing bump for the 2026 Denza B5 Leopard is just part of what’s been a substantial tuning program including roughly 30 per cent stiffer damper and spring rates than China-spec.

Drive assist systems have also been retuned, but there is still no drop down shortcut menu to switch them off. It remains a dab-dab-swipe process in the touchscreen to pluck out what you want to change. An update to provide the shortcut could be coming soon.

Both digital updates and physical examples of the Denza B5s and big brother six- and seven-seat B8s have been zipping back and forth from China to Australia on a regular basis over the past 12 months as part of the retune.

Our short drive period in the B5 Leopard included bitumen at speed, gravel roads and some mildly technical off-roading. In all three environments the B5 coped, suggesting the tuning was headed in the right direction.

On bitumen, for such a heavy and big vehicle, the B5 Leopard felt resolved and confident. Its active suspension could be tied down to be quite firm and quell cornering body roll, or relaxed to soak up the bumps.

Steering is responsive, although feel is limited. In a car of this immense weight, just being manageable is a win.

Off-road the clearance, traction and combination of mechanical locks and electronic traction control meant the Leopard climbed, descended and traversed rocks gardens and moguls successfully. Hill descent control is also fitted.

The B5’s also well tucked away, with a maximum 39 degree approach angle, 27 degree breakover and 35 degree departure.

The Leopard was at its weakest on fast and very loose gravel, not quite embedding in the road to feel truly comfortable. Front-end grip wasn’t that strong, tending to wash out.

But to be fair, there are so many modes with which to retune the powertrain, the suspension and drive assistants such as traction control I may not have chosen the right combination for those conditions. It’s just way too distracting to be driving along working through them all.

The powertrain is quiet and powerful and the acceleration claim is entirely believable. It’s stronger than any diesel – a mild hybrid Prado wouldn’t see which way this thing went. The engine acts as a generator below 80km/h and above that speed also drives the front wheels.

Another advantage over orthodox diesel vehicles is the PHEV system’s ability to deliver enough zero emissions range to cover daily urban running. Up to 90km WLTP is claimed.

You may not have to put 95 RON (it can also accept 91) in the 83 litre fuel tank for weeks or months if you’re judicious with battery charging (11kW AC and up to 100kW DC claimed). The recommendation is one tank of fuel per year through the system to ensure it doesn’t go bad.

While Denza hasn’t announced official local consumption claims for fuel or electricity, the sticker on the windscreen reported 1.9L/100km, which is the usual PHEV theoretical number. The trip computer of the B5 Leopard at the end of our day at Lang Lang was showing 11.7L/100km and 14.2kWh/100km.

Inside, in that typical Chinese way, the B5’s a car that looks more high-end than the money that’s being charged.

Front seats are large, supportive, powered, heated and ventilated; leather drapes most surfaces, big screens dominate the architecture, an impressive phalanx of buttons and controls in the centre console and dual rollers in the four-spoke steering wheel adjust modes. It’s all very reminiscent of the Shark 6.

Storage is generous through the cabin and space is excellent in the back seat. A long 2800mm wheelbase and that boxy shape help ensure taller people have legroom and shoulder room. The floor promotes a slightly knees-up seating position, presumably because of the battery under the floor.

The boot is accessed by a side-opening lockable tailgate that swings toward the pavement (the wrong way) with a full-size spare tyre attached to it. There’s 470 litres of luggage space, expanding to 1064 litres if you fold down the rear seat.

2026 Denza B5 Leopard: Verdict

The 2026 Denza B5 range is on-course to shake up the closely-held 4×4 wagon market. Its pricing, performance and equipment levels mean it’s got a lot going for it.

It’s bloody heavy, complex and its ultimate reliability and durability is an unknown. The 3000kg braked tow is also still slightly underdone compared to orthodox diesel rivals.

But there’s no doubt there’s plenty of interest among Australia 4×4 wagon buyers about this vehicle and big brother B8.

It’s a smart move by Denza launch in Australia with these two rather than a sports car or people-mover or something else entirely niche. At $80,000-$90,000 with its immense capability the B5 is going to be on a lot of shopping lists.

SCORE: 4/5

2026 Denza B5 Leopard specifications

Price: $90,000 plus on-road costs (est)
Basics: PHEV, 5 seats, 5 doors, SUV, 4×4
Range: 90km EV only
Battery capacity: 31.8kWh Lithium-ion
Battery warranty: Eight-years/160,000km (we think)
Energy consumption: 14.2kWh/100km (on test)
Fuel consumption: 1.9L/100km (ADR), 11.7L/100Km Combined (on test)
Powertrain: 1.5-litre four-cylinder
Motors: 1 front and 1 rear
Combined output: 425kW and 760Nm
AC charging: 11kW, Type 2 plug
DC charging: 100kW, CCS plug
0-100km/h: 4.8 seconds