Mercedes-Benz sells stake in carmaker Denza

According to a report published by a Chinese news outlets, BYD has now taken full ownership of Denza, which was setup as a joint venture, with Mercedes-Benz owning half of the shares.

Denza was established in 2011 and has since released various car models and more recently, EVs. Its latest model, theDenza Z9 GT is set to debut globally on September 20.

The initial capital was about $1 billion, but a series of unsuccessful car models forced Mercedes to decrease its stake in the company. Back in 2021, BYD took a 90% stake, leaving Mercedes out of the development of new vehicles and only as a shareholder. Since then, the company has picked up and is gaining momentum.

Today, an unofficial report claims that Mercedes is completely out, with BYD taking full control of Denza. This decision seemingly makes sense as BYD's management of Denza is bringing positive results.

Source (in Chinese)