Partners Daimler and BYD have decided what to do with the joint venture BYD Daimler New Technology (BDNT), created in 2010 with equal shares (50:50) and launched in 2012 the electric car brand Denza. Its line was never wide, in fact, one car, Denza 500, was replaced by another (Denza X), which did nothing to increase popularity. Now announced: BDNT will be transformed into a new JV Shenzhen Denza New Energy Automotive or simply Denza. And the shares will change. Only 10% of the capital will remain with Daimler, and 90% of the new company will be owned by BYD.
The reorganization will take place in mid-2022 after regulatory approval. Both Daimler and BYD are “confident in the growth potential of the new energy vehicle market in China.” Only Daimler seems to be less interested in the tiny Denza brand. The Germans are enthusiastically developing their own line of EQ electric cars, including localizing them in the Middle Kingdom.
BYD is also doing well with electric cars and plug-in hybrids (PHEVs). If you count electric trains and PHEVs in total, then BYD (329,408 plug-ins in the nine months of 2021) is now the second brand in the world after Tesla. However, a separate brand (Denza), already known in the market, may come in handy when BYD conceives a premium sub-brand. It is possible that the redistribution of shares and reorganization is preparation for such a changed positioning of Denza. In the meantime, the partners have officially announced: in 2022, Denza will introduce new models to the Chinese market and will look for opportunities for further growth.
Source: DRIVE.RU by www.drive.ru.
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