Mercedes-Benz relinquishes its share in Denza

Mercedes-Benz has withdrawn from the joint ownership of the Chinese car brand Denza, leaving it entirely to BYD.

Denza was established as a car brand by Daimler AG and BYD Group 13 years ago. The two automakers originally had equal shares in it, but struggled to promote the new badge in an increasingly populated market.

In late 2021, Daimler cut its share in Denza to just 10 percent. Interestingly, the brand proceeded to lift off and actually become somewhat successful, skyrocketing from 10,000 vehicles sold in 2022 to 127,000 sold in 2023.

With Mercedes-Benz pulling out of the partnership completely, it no longer has a representative in the Board of Directors. It also means that BYD controls 100% of Denza stock.