Daimler, BYD to restructure China EV venture Denza


BEIJING — Daimler and its Chinese partner BYD have signed an equity transfer agreement to restructure their China EV venture Denza.

Daimler said its holdings in Denza will be reduced to 10 percent, and BYD will hold the remaining 90 percent equity interest after the transfer.

In 2022, Denza will introduce new models to the Chinese market and seek further growth opportunities, Daimler said in a statement on Thursday.

BYD is currently boosting premium electric models to compete with Nio and Tesla.

Products You May Like

Articles You May Like

2021 Porsche 911 Turbo S Hot Lap! – 2020 Best Driver’s Car Contender
DeLorean Omega Reveal! Car of the Future? | MotorTrend #shorts
Testing Exhaust Cutouts on Big Block Chevy! | Engine Masters | MotorTrend
Jeeps and Trucks Off-Roading through Pennsylvania | Overland Adventure East Episode 1
Faster with Finnegan S2 Ep1 FULL EPISODE – Can Our ’78 Ford Beat a NASCAR Driver? | MotorTrend

Leave a Reply

Your email address will not be published.