Contact Us

Home> New Energy> News detail

BYD increases registered capital of BYD-Daimler NEV JV by RMB200 million

Monika From Gasgoo| February 11 , 2019

Shanghai (Gasgoo)- BYD Company Limited announced on February 1 that its board of directors agreed a proposal that allows BYD Auto Industry Company Limited, its wholly-owned subsidiary, to inject an additional RMB 200 million as registered capital into Shenzhen DENZA New Energy Automotive Co., Ltd. (DENZA), a joint venture in partnership with Daimler.

BYD Auto Industry Company Limited's equity in DENZA will remain at 50% after the capital increase completes.

The BYD's subsidiary had added RMB500 million in DENZA as early as May, 2017, which was mainly used as operational capital for the joint venture in order to alleviated the pressure of extended cycle to receive subsidy over the DENZA's business operation caused by the adjustment of national new energy vehicle (NEV) subsidy policy. The latest capital increase signals BYD's confidence in the NEV joint venture promising development.

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

On March 26, 2018, Daimler and BYD Auto Industry Company Limited launched the new DENZA 500 battery electric vehicle from DENZA. Engineered and produced in and for China, the new DENZA 500 offers Chinese customers a comprehensive upgrade through a refreshed exterior design and extended electric range.

In addition, BYD said in last May that the company and Daimler Greater China Ltd. would respectively pour an investment of RMB 400 million into DENZA to improve the joint venture's asset-liability ratio and expand the sales network.

Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:   Seller Service:

All Rights Reserved. Do not reproduce, copy and use the editorial content without permission. Contact us:

Hot Auto Products| e-Catalog| Auto Products Directory| Auto Parts Manufacturers|

Gasgoo Site: Automotive News| 中文站| 汽车资讯| 出口供应商| 汽车社区|

Copyright Notice © 2016 Corporation and its licensors. All rights reserved. Updated:2019/10/22 2:08:15