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After Daimler and the giant BYD signed an alliance with the intention of attacking the Chinese market, the automaker gives up and sells part of Denza, its 'Chinese Mercedes-Benz', and Chinese consolidate themselves in the premium electric car market
The giant electric car manufacturers sign agreements around the world. Daimler, the mother brand of Mercedes Benz, has the help of third-party manufacturers to improve the introduction in different markets. Business partners helping to alleviate high production costs, Daimler and the giant BYD signed an alliance some time ago with the intention of attacking the Chinese market under the Denza brand. Today, the terms are modified so that the Chinese have more power than the Germans.
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It's not that Mercedes, or rather Daimler, is giving up on the Chinese market. Its plans in the Far East are well underway and for a long time it has managed to position itself as one of the best-rated and best-selling premium brands. However, in 2010, it signed a collaboration with its partner BYD to improve the introduction of electric mobility. And so they founded the company Denza.
Originally, the company consisted of a 50% collaboration from each brand. The plans have always been the same, to produce quality electric vehicles with premium recognition. They currently offer a single model, the Denza X, a SUV which can be 100% electric or plug-in hybrid. Its impact on the markets has been less than expected and, as Mercedes has done so well with its exploration of the Chinese market, it felt that this was the time to reduce its stake in the company.
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Daimler sells 40% of Denza and Chinese consolidate in the premium electric car market
Daimler announced that it sells 40% of its commercial stake to BYD. In fact, the terms of the agreement conclude that a transfer is made. This way, BYD will have 90% of the company, while the Germans will remain with 10%. Obviously, this puts a lot more weight on the Chinese, who will be responsible for carrying the weight of the entire company. An interesting move, as it allows BYD to enter the premium market with a consolidated brand for it.
The goal is to continue growing and, for that, Denza will bring more models to the market. The year 2022 is particularly motivated by this strategy. At the moment it is not known which models will be presented, but what is known is that they will be highly electrified and with a quality approach. The company's tentacles won't end there, as it also aspires to become a provider of electricity services and solutions.
In the coming years, the pace of presentations will increase. Denza has a solid foundation to rely on, although it can be exploited much more efficiently. As one of the forerunners of new generation mobility, in recent years it has seen how new manufacturers have passed right by. Today, it is no longer alone in the market, and very important rivals are at the forefront and will not make things easy for it.
