{"id":19005,"date":"2024-09-25T10:33:49","date_gmt":"2024-09-25T02:33:49","guid":{"rendered":"https:\/\/battery9999.com\/en\/?p=19005"},"modified":"2024-09-25T10:33:49","modified_gmt":"2024-09-25T02:33:49","slug":"byd-takes-full-control-of-mercedes-benz-venture-in-china","status":"publish","type":"post","link":"https:\/\/battery9999.com\/en\/byd-takes-full-control-of-mercedes-benz-venture-in-china\/","title":{"rendered":"BYD Takes Full Control of Mercedes-Benz Venture in China"},"content":{"rendered":"
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2024\/9\/19<\/div>\n
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(Bloomberg) — Chinese automaker BYD Co. has moved to fully control a joint venture it had in China with Mercedes-Benz Group AG, as an increasing number of foreign carmakers dial back their exposure to the world\u2019s biggest auto market.<\/p>\n

BYD has acquired the remaining 10% of shares it didn\u2019t already own in a company set up to market the Denza premium electric vehicle brand, according to a statement late Monday that didn\u2019t provide a value for the deal. Representatives for Mercedes-Benz in China declined to comment.<\/p>\n

The move ends a 13-year partnership and comes during a time of heightened trade tensions between China and Europe as the European Commission works to impose additional tariffs on Chinese EVs of up to 36.3%. A vote by member states on the proposal is planned for next week.<\/p>\n

Denza, incorporated as Shenzhen BYD New Energy Co., was established by BYD and Mercedes in 2011 with each holding a 50% interest. The venture focused on premium EVs but poor sales led to Mercedes, then known as Daimler, reducing its stake to 10% in 2021.<\/p>\n

After a strategy reset the following year, Denza has found new popularity in its luxury people mover vans with its D9 minivan ranking as the best-seller in the category for 2023. According to local media reports, Denza is set to\u00a0launch its Z9GT\u00a0<\/a>model later this week with a pre-sale price that starts from 339,800 yuan ($47,900).<\/p>\n

\u00a0Source:BYD Takes Full Control of Mercedes-Benz Venture in China (msn.com)<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

2024\/9\/19<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[113],"tags":[],"class_list":["post-19005","post","type-post","status-publish","format-standard","hentry","category-industrial-news"],"yoast_head":"\nBYD Takes Full Control of Mercedes-Benz Venture in China - \u660c\u8467\u80a1\u4efd\u6709\u9650\u516c\u53f8<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/battery9999.com\/en\/byd-takes-full-control-of-mercedes-benz-venture-in-china\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BYD Takes Full Control of Mercedes-Benz Venture in China - \u660c\u8467\u80a1\u4efd\u6709\u9650\u516c\u53f8\" \/>\n<meta property=\"og:description\" content=\"2024\/9\/19\" \/>\n<meta property=\"og:url\" content=\"https:\/\/battery9999.com\/en\/byd-takes-full-control-of-mercedes-benz-venture-in-china\/\" \/>\n<meta property=\"og:site_name\" content=\"\u660c\u8467\u80a1\u4efd\u6709\u9650\u516c\u53f8\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-25T02:33:49+00:00\" \/>\n<meta name=\"author\" content=\"DPC\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"DPC\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/battery9999.com\/en\/byd-takes-full-control-of-mercedes-benz-venture-in-china\/\",\"url\":\"https:\/\/battery9999.com\/en\/byd-takes-full-control-of-mercedes-benz-venture-in-china\/\",\"name\":\"BYD Takes Full Control of Mercedes-Benz Venture in China - 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