byd makes a big move! mercedes-benz withdraws completely →
2024-09-18
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china business news (reporter lei kexin)recently, a big news came out in the new energy vehicle market: shenzhen byd automotive co., ltd. (hereinafter referred to as byd automotive) has undergone equity and industrial and commercial changes, and byd auto industry co., ltd. (hereinafter referred to as byd) has increased its shareholding in byd automotive from 90% to 100%, achieving full ownership. this change marks the complete withdrawal of mercedes-benz (china) investment co., ltd. from byd automotive.
after leaving the brand support of mercedes-benz and officially transforming from a joint venture brand to byd's own brand, can denza auto start the "leap mode" next?
denza auto undergoes multiple changes
according to tianyancha and other enterprise information query platforms, the equity change of byd denza automotive took place on september 14. after the change, byd's subscribed capital for denza automotive increased from 6.984 billion yuan to 7.760 billion yuan, while mercedes-benz (china) investment co., ltd., which originally held 10% of the shares, withdrew from the list of shareholders, and the original director hans georg engel also withdrew from the board of directors of denza automotive.
the picture is taken from the tianyancha website.
in addition, the market entity type of denza automobile has also changed from "sino-foreign joint venture" to "sole proprietorship". this series of changes not only means that byd has full control over denza automobile, but also marks a further step in byd's layout in the new energy luxury car market.
the development of denza automotive has not been smooth sailing. in 2011, byd and daimler, the parent company of mercedes-benz, jointly established shenzhen byd daimler new technology co., ltd., with each party holding 50% of the shares, and launched a new car brand "denza". for a long time after the brand was established, due to factors such as insufficient brand awareness and channel mismatch, denza automotive did not gain popularity in the domestic new energy vehicle market.
in 2021, byd and daimler signed an equity transfer agreement on adjusting the structure of denza auto, and byd's shareholding in denza auto increased from 50% to 90%. byd began to lead the strategic development of denza auto, while mercedes-benz shifted to an assisting and supporting role.
byd positions denza as a new energy luxury brand, targeting the passenger car market in the 300,000 to 800,000 yuan range. after the reform, denza has launched a number of models, including denza d9, n7, n8, z9 and z9gt, further enriching its product line. official sales data show that in 2023, denza's annual sales will reach 127,800 vehicles.
entering 2024, the development momentum of denza automobile is even more rapid. according to data disclosed by byd, from january to august, the cumulative sales of denza automobile reached 79,800 units, of which the cumulative sales of denza d9 reached 71,300 units.
byd denza enters the luxury car market
byd chairman and president wang chuanfu has high hopes for the future development of denza. on august 20, at the 2024 denza technology day and the pre-sale launch of the denza z9gt, wang chuanfu spoke for denza and stressed: "denza connects all major brands under byd. downward, denza integrates the resources of dynasty.com, ocean.com and fangchengbao.com; upward, denza provides a solid foundation for high-end brands to look up to. at present, the number of denza's direct stores nationwide has exceeded 380, covering more than 100 cities."
industry observer hong shibin analyzed to china business news: "as a leading domestic electric vehicle manufacturer, byd's supply chain and production costs are relatively low, which will help optimize the supply chain and production costs of denza, allowing denza to gain price advantages in market competition and improve its market competitiveness."
can byd's full ownership of denza help denza achieve new breakthroughs in the luxury car market?
bai wenxi, vice chairman of the china enterprise capital alliance, said in an interview with china business news: "the transformation of byd's wholly-owned independent brand from a joint venture brand means that byd will have greater decision-making freedom and brand independence, and can more flexibly adjust its strategy and product line according to market demand."
zhan junhao, founder of fujian huace brand positioning consulting, told china business news: "byd will fully support denza auto in its efforts to develop the luxury new energy vehicle market and help it establish a distinctive brand image. byd's technological empowerment will also inject new vitality into the denza auto brand. with the continuous expansion of the new energy vehicle market and the strengthening of the globalization trend, the denza auto brand is expected to achieve a wider market layout and deeper international development with the help of byd."
