Wed Sep 18 02:04:08 UTC 2024: ## Mercedes-Benz Exits Denza Joint Venture with BYD

**SHANGHAI, CHINA** – Mercedes-Benz has fully withdrawn from its joint venture with Chinese automaker BYD, selling off its remaining 10% equity stake in the Denza brand. This move comes after BYD increased its ownership in the JV to 90% in 2022, effectively taking complete control.

Denza, founded in 2011 as a 50/50 partnership between BYD and Daimler (later rebranded as Mercedes-Benz), initially focused on new energy vehicles (NEVs). However, early models like the X, EV/400/500 struggled to gain traction and were eventually discontinued.

Following BYD’s acquisition of the majority stake, Denza underwent a significant restructuring and relaunched with a new focus on premium NEVs. This resulted in the successful introduction of models like the D9 MPV, N7, N8, and Z9, with the upcoming Z9 GT further expanding the brand’s lineup.

Denza experienced a surge in sales last year, delivering 127,840 vehicles, with the D9 proving particularly popular. This year, the brand has continued its upward trajectory, selling 79,894 units from January to August, with the D9 accounting for 89% of sales.

With its expanding presence in right-hand drive markets, including Malaysia, Denza’s future appears bright. Mercedes-Benz’s exit marks the end of its involvement in the Chinese EV market, while BYD is poised to fully capitalize on Denza’s growing success.

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