BYD takes full control of Denza – End of an era with Mercedes-Benz

China's automobile manufacturer BYD has taken full control of the joint venture with Mercedes-Benz, marking a significant step in a changing market where more and more foreign automobile manufacturers are withdrawing. BYD secured the remaining 10% of shares in the company responsible for the distribution of Denza premium electric vehicles. The exact purchase price was not disclosed. Mercedes-Benz representatives in China declined to comment on the transaction. This development marks the end of a 13-year partnership and comes at a time of heightened trade tensions between China and Europe. The European Commission plans to impose additional tariffs of up to 36.3% on Chinese electric vehicles, with a vote on this proposal set for next week. Denza, officially known as Shenzhen BYD New Energy Co., was established in 2011 with the initial goal of marketing premium electric vehicles. However, weak sales led Mercedes-Benz, then known as Daimler, to reduce its stake to 10% in 2021. Following a strategic realignment, Denza experienced a comeback with its luxury vans, particularly the D9 minivan. The model topped the sales charts in its category in 2023. According to local media reports, Denza plans to launch the new Z9GT model this week, with a presale price starting at 339,800 Yuan (approximately 47,900 USD).