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BYD, Daimler once again adds capital to NEV joint venture DENZA

Monika From Gasgoo| January 16 , 2020

Shanghai (Gasgoo)- On January 14, registered capital of Shenzhen DENZA New Energy Automotive Co.,Ltd (DENZA), a joint venture between BYD and Daimler, was increased by RMB700 million to RMB5.76 billion, according to an update record from corporate data platform Tianyancha.

Founded in 2011 with an initial registered capital of RMB2.36 billion, Denza is 50/50 held by BYD Auto Industry Company Limited, a subsidiary of BYD, and Daimler Greater China Ltd. (DGRC). Prior to the latest capital increase, both parent companies had together pumped RMB1 billion, RMB800 million, RMB400 million and RMB300 in May 2017, May 2018, February 2019 and May 2019 respectively.

BYD Daimler capital increase DENZA, Daimler Geely, China automotive news

(Photo source: DENZA)

The BYD-Daimler joint venture launched the all-new Denza X at the Auto Guangzhou 2019. The 7-seater SUV is available as a plug-in hybrid and an all-electric version. Interestingly, it is engineered by the China-based Denza, but styled by Mercedes-Benz. The PHEV version does 0-100 km/h acceleration in 4.3 seconds, and the full-electric version offered up to 520km/h of NEDC-rated range. Pricing starts at RMB289,000 after the green-car subsidy.

Currently, the all-new Denza X SUVs have been available for scale delivery to consumers.

Mercedes-Benz's China sales company is to-day accountable for the sale, marketing, branding, after-sale service, and sales network development of Denza's products. From the time being, a total of 88 auto dealers in 44 cities have engaged in selling Denza's vehicles.

BYD Daimler capital increase DENZA, Daimler Geely, China automotive news

(Photo source: Daimler)

Like all other foreign automakers, Daimler also has joint ventures in China to produce and sell at the world's largest auto market. Apart from Beijing Benz and DENZA, the German carmaker recently announced the establishment of a new joint venture “smart Automobile Co., Ltd.” with Zhejiang Geely Holding Group for the smart brand after receiving the regulatory approvals.

According to the announcement, the new generation of smart vehicles will be designed by the worldwide Mercedes-Benz Design network and developed by the Geely global engineering network. Future production will be located in China. As part of the vehicle-development program, the smart product portfolio will be extended into the fast-growing B-segment that are in line with smart's brand positioning with a focus on pure premium electric and connected vehicles.

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