The dream is over: Mercedes-Benz has completely withdrawn from the Chinese joint venture Denza with the electric car market leader BYD (Build Your Dreams).
The German group has sold the remaining ten percent stake to BYD, as a company spokesman confirmed on Tuesday. The Stuttgart-based company did not want to disclose the purchase price. In 2021, Mercedes had already decided to concentrate on its own brand in China and in doing so also reduced its share in the joint venture. In 2010, the then Daimler Group and BYD decided to cooperate on electric cars. BYD is now the market leader in the People’s Republic of China, the largest car market in the world, ahead of Volkswagen.
source site-13