BYD Take Over All Shares Of This Luxury Car Brand From Mercedes-Benz

KARTA Shocking news came from BYD. This Chinese automotive company is now officially in full control of the premium electric vehicle brand Denza, which was previously the result of a collaboration with Mercedes-Benz.

Quoting from CNevpost, Wednesday, September 18, BYD has purchased 10 percent of Mercedes-Benz's shares, making it control 100 percent of Denza's shares. Previously, since 2022, BYD had already held 90 percent of the shares, while Mercedes-Benz only had 10 percent.

Denza, born from the collaboration of BYD and Mercedes-Benz, is known as the premium electric car brand. Established since 2011, Denza had launched several models such as Denza 300, Denza 400, and the Denza X hybrid SUV. However, these models did not succeed in success in the market and were eventually stopped.

In mid-2022, BYD decided to give birth to this brand by introducing Denza D9, a premium MPV that was first launched on May 16, 2022. The official launch of Denza D9 was carried out on August 23, 2022, and began shipping on October 25 in the same year. Interestingly, this MPV was also exhibited at the IIMS 2024 event, which stole attention with a luxurious design and advanced electrical performance.

This move further confirms the dominance of BYD in the new energy vehicle industry, as well as ending Mercedes-Benz' involvement in the Denza project. This is reinforced by the resignation of one of the Mercedes-Benz executives, Hans Georg Engel, from the board of directors of Denza.

With this step, BYD continues to strengthen its position as a leader in the global electric vehicle industry.