Denza

Last updated
Shenzhen BYD New Energy Co., Ltd.
Company type Joint venture
Industry Automotive
PredecessorShenzhen BYD Daimler New Technology Co., Ltd. (2010–2021)
FoundedMay 2010;13 years ago (May 2010)
Headquarters
Shenzhen, Guangdong
,
China
Area served
China
Key people
Lian Yubo (CEO)
Products Automobiles
Owner
Website www.tengshiauto.com
Footnotes /references
[1]

Shenzhen BYD New Energy Co., Ltd., trading as Denza, is an automobile manufacturing company headquartered in Shenzhen, China, specialising in luxury electric cars and a joint venture between BYD Auto Industry and the Mercedes-Benz Group (previously Daimler AG). Founded in May 2010, in late 2014 the company introduced its first model, the Denza EV. The car was initially put on sale in selected Chinese cities only. [2] In late 2021, Denza underwent a restructuring as Mercedes-Benz reduced its share to 10%, while BYD held the rest. [3]

Contents

Name

An invented name from the Chinese Tengshi (simplified Chinese :腾势; traditional Chinese :騰勢; pinyin :Téngshì), Denza roughly translates to "rising power and momentum". [4] Alternative translations include "wind power" or "winding circumstances".

History

Early period (2010–2021)

Denza all-electric concept car at Auto Shanghai 2013 Denza NEV 2013.JPG
Denza all-electric concept car at Auto Shanghai 2013

On 1 March 2010, BYD Auto and Daimler AG signed a memorandum of understanding for the joint development of electric vehicles. [5] That initial link-up led to the creation of a new, equal-ownership legal entity, Shenzhen BYD Daimler New Technology Co., Ltd., which was formally established on 27 May 2010 [6] [7] and received a business license from the Chinese state in March 2011. [8] Its brand name, Denza, debuted in March 2012, and a new energy vehicle (NEV) concept car was first shown in April 2012 at the Auto China motor show in Beijing. [9] It was expected that this product would be offered as a luxury car. [10]

While its initial product was set to be launched in Beijing, Shanghai, and Shenzhen in September 2014, [11] in June of that year the launch date was pushed back to late 2014, [12] and the car debuted in December of that year. [2]

At that time, sales of new energy vehicles depend on subsidies provided by the Chinese government. When Denza launched its first car in December 2014, purchasers of the car qualified for a RMB 78,000 subsidy [2] and while the total subsidy on offer depends on location of purchase, no more than RMB 120,000 can be deducted. [11] As of 2014, buyers were exempted from Beijing's license plate lottery and qualified for free plates in Shanghai and Shenzhen. [11]

In 2018, the Denza EV underwent extensive body restyling, changing its name to Denza 500. [13] In November 2019, Denza presented its second model based on the second-generation BYD Tang. The vehicle was designed with significant participation of Mercedes-Benz designers, [14] which handled exterior and interior design. [15] Sales of the Denza X started at the end of 2020 exclusively on the Chinese market. [16]

Restructuring (2021–present)

In February 2021, the German business daily Handelsblatt reported that the relations between Denza's co-owners were in crisis, as its sales did not meet the expectations of Mercedes, which allegedly expressed a desire to end the venture. However, this information was denied. [17] Due to the uncertain future of Denza, a recovery plan was prepared and changes in the joint venture structure was announced in December 2021. The unpopular Denza X SUV was discontinued, and the alliance changed its name to Shenzhen Denza New Energy Vehicle Co., Ltd. In turn, Mercedes-Benz Group reduced its shares from 50% to 10% in favor of BYD's higher stake of 90%. [18]

The first model since the restructuring, the Denza D9 minivan was introduced in August 2022. The D9 is available in plug-in hybrid and battery electric variant. [19] At the same time, the company announced the expansion of its dealer network in China with a plan to open 270 new points by the end of 2022 throughout the country. [20] In March 2023, Denza introduced its second new model after restructuring, the Denza N7 battery electric SUV. [21] [22] In the same month, the range was expanded with a larger SUV Denza N8, which is based on the Denza X. [23] The Denza series will eventually consist of products with names starting with the D, E, N, Z, and A letters, spelling the name DENZA. [24]

Products

Current

Discontinued

Concept vehicles

See also

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<span class="mw-page-title-main">Denza N8</span> Mid-size crossover SUV

The Denza N8 and the preceding Denza X are plug-in hybrid and battery electric mid-size crossover SUVs. The original Denza X was first launched in Guangzhou Auto Show 2019 by Denza, originally a joint venture between Chinese automaker BYD Auto and German luxury car brand Mercedes-Benz.

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<span class="mw-page-title-main">Denza D9</span> Chinese minivan

The Denza D9 is a battery electric and plug-in hybrid minivan produced by Denza since 2022. The D9 was launched on the Chinese market in May 2022 as first of three new Denza models for 2022.

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<span class="mw-page-title-main">Denza N7</span> Battery electric mid-size crossover SUV

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References

  1. ↑ "Auto Show Concludes, China Brands Rise". CRI English. 3 May 2012. Archived from the original on May 17, 2012. Retrieved 20 May 2012.
  2. 1 2 3 Pugliese, Tony (8 December 2014). "CHINA: BYD-Daimler launches new Denza EV". just-auto.com. Aroq Ltd. Archived from the original on 4 January 2015. Retrieved 4 January 2015.
  3. ↑ Germany, Stuttgarter Zeitung, Stuttgart. "Daimler: Stuttgarter Autobauer reduziert Denza-Anteil". stuttgarter-zeitung.de (in German). Retrieved 2021-12-24.{{cite web}}: CS1 maint: multiple names: authors list (link)
  4. ↑ "Brand". denza.com. Shenzhen BYD Daimler New Technology Co., Ltd. Retrieved 18 May 2012.
  5. ↑ "UPDATE 2-Daimler and BYD sign agreement on electric cars". reuters.com. Thomson Reters. 1 March 2010. Retrieved 23 Sep 2013.
  6. ↑ "Daimler and BYD Put Electric Car Venture in Gear". The New York Times. 28 May 2010. Retrieved 20 May 2012.
  7. ↑ "Company". denza.com. Shenzhen BYD Daimler New Technology Co., Ltd. Retrieved 20 May 2012.
  8. ↑ "Joint Venture between BYD and Daimler Receives Business License". BYD Auto. 2011-03-01. Archived from the original on July 8, 2011.
  9. ↑ For brand name debut, see "Daimler and BYD launch new electric car brand". China Daily. 31 March 2012. Retrieved 18 May 2012.
  10. ↑ Lau, Shirley (23 Sep 2013). "Hybrid Hothouse". Money Magazine. South China Morning Post. Retrieved 29 September 2013.
  11. 1 2 3 "Daimler-BYD Joint Venture's New All-Electric Vehicle DENZA unveiled at Auto China". Daimler Global Media Site. Daimler AG. 21 April 2014. Archived from the original on 25 April 2016. Retrieved 10 April 2016.
  12. ↑ "Daimler expects sales to surpass Audi, BMW in China this year". reuters.com. Thomson Reuters. Jul 6, 2014. Retrieved 25 July 2014.
  13. ↑ "Denza 500 - elektryczny brzydal od Daimlera" (in Polish). Archived from the original on 2020-06-25. Retrieved 2020-06-24.
  14. ↑ "Mercedes-Benz-styled Denza X to hit market at Auto Guangzhou" . Retrieved 2020-06-24.
  15. ↑ "China's Denza X Electric SUV Is A Mercedes-Benz In All But Name" . Retrieved 2020-06-24.
  16. ↑ "Oto "chiński Mercedes". Nazywa się Denza X, ma 400 KM i po części trafi do Europy" (in Polish). Retrieved 2020-06-24.
  17. ↑ "Is the Daimler-BYD JV Denza about to fall in China? | electrive.com". www.electrive.com. Retrieved 2024-01-24.
  18. ↑ "Mercedes-Benz Media". Mercedes-Benz Media. Retrieved 2024-01-13.
  19. ↑ Zhang, Phate (2022-08-24). "BYD's Denza brand officially launches D9 MPV in China". CnEVPost. Retrieved 2024-01-13.
  20. ↑ "BYD to Open 270 Denza Brand Stores in China by Year's End". www.yicaiglobal.com. Retrieved 2024-01-13.
  21. ↑ "Denza Inception Unveiled On The Chengdu Auto Show In China" . Retrieved 2022-11-06.
  22. ↑ "Chińczycy skopiowali niemieckie auto. Każdy pozna, co udaje" [The Chinese copied the German car. Everyone will know what he is pretending to be]. Autokult (in Polish). 2023-03-08. Retrieved 2024-01-13.
  23. ↑ "Denza N8 is an expensive BYD Tang sibling. To launch this year" . Retrieved 2023-03-29.
  24. ↑ "BYD-Mercedes Backed Denza D9 Electric MPV Officially Launched in China". 16 May 2022. Retrieved 2022-12-02.
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