Company:Denza

From HandWiki
Short description: Chinese automobile manufacturing company
Shenzhen BYD New Energy Co., Ltd.
TypeJoint venture
IndustryAutomotive industry
FoundedMay 2010; 13 years ago (May 2010)
Headquarters
Shenzhen, Guangdong
,
China
Area served
China
Key people
Lian Yubo (CEO)
ProductsAutomobiles
Owner
Websitewww.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. 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]

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

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 China 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]

Products

Current

Discontinued

Concept vehicles

  • Denza EV Concept (2012)
  • Denza Inception (2022)

  • Denza 500

  • Denza X

  • Denza D9

  • Denza N7

See also

References

  1. ↑ "Auto Show Concludes, China Brands Rise". CRI English. 3 May 2012. http://english.cri.cn/6826/2012/05/03/191s696965.htm. 
  2. ↑ 2.0 2.1 2.2 Pugliese, Tony (8 December 2014). "CHINA: BYD-Daimler launches new Denza EV". just-auto.com. Aroq Ltd. http://www.just-auto.com/news/byd-daimler-launches-new-denza-ev_id153408.aspx. 
  3. ↑ Germany, Stuttgarter Zeitung, Stuttgart. "Daimler: Stuttgarter Autobauer reduziert Denza-Anteil" (in de). https://www.stuttgarter-zeitung.de/inhalt.daimler-stuttgarter-autobauer-reduziert-denza-anteil.c692e9eb-ce85-4732-8d70-e1cad08c2a1b.html. 
  4. ↑ "Brand". denza.com. Shenzhen BYD Daimler New Technology Co., Ltd.. http://www.denza.com/index.php?a=index&m=Page&id=22&l=en. 
  5. ↑ "UPDATE 2-Daimler and BYD sign agreement on electric cars". reuters.com (Thomson Reters). 1 March 2010. https://www.reuters.com/article/daimler-idUSLDE6202C220100301. 
  6. ↑ "Daimler and BYD Put Electric Car Venture in Gear". The New York Times. 28 May 2010. https://dealbook.nytimes.com/2010/05/28/daimler-and-byd-put-electric-car-venture-in-gear/. 
  7. ↑ "Company". denza.com. Shenzhen BYD Daimler New Technology Co., Ltd.. http://www.denza.com/index.php?a=index&m=Page&id=21&l=en. 
  8. ↑ "Joint Venture between BYD and Daimler Receives Business License". BYD Auto. 2011-03-01. http://www.byd.com/buzz/company-news/joint-venture-between-byd-and-daimler-receives-business-license/. 
  9. ↑ For brand name debut, see "Daimler and BYD launch new electric car brand". China Daily. 31 March 2012. http://usa.chinadaily.com.cn/business/2012-03/31/content_14957646.htm. 
  10. ↑ Lau, Shirley (23 Sep 2013). "Hybrid Hothouse". Money Magazine. South China Morning Post. http://www.scmp.com/magazines/money/article/1309079/hybrid-hothouse. 
  11. ↑ 11.0 11.1 11.2 "Daimler-BYD Joint Venture's New All-Electric Vehicle DENZA unveiled at Auto China". Daimler Global Media Site. Daimler AG. 21 April 2014. http://media.daimler.com/deeplink?cci=2464278. 
  12. ↑ "Daimler expects sales to surpass Audi, BMW in China this year". reuters.com. Thomson Reuters. Jul 6, 2014. https://www.reuters.com/article/us-daimler-china-idUSKBN0FB0PZ20140706. 
  13. ↑ "Denza 500 - elektryczny brzydal od Daimlera" (in pl). https://www.auto-motor-i-sport.pl/wydarzenia/Denza-500-elektryczny-brzydal-od-Daimlera,33136,1. 
  14. ↑ "Mercedes-Benz-styled Denza X to hit market at Auto Guangzhou" (in en). http://autonews.gasgoo.com/china_news/70016535.html. 
  15. ↑ "China’s Denza X Electric SUV Is A Mercedes-Benz In All But Name" (in en). https://www.carscoops.com/2019/11/mercedes-styled-denza-x-production-crossover-unveiled-in-ev-and-phev-guise/. 
  16. ↑ "Oto "chiński Mercedes". Nazywa się Denza X, ma 400 KM i po części trafi do Europy" (in pl). https://autogaleria.pl/denza-x-byd-tang-ev-600. 
  17. ↑ "Is the Daimler-BYD JV Denza about to fall in China? | electrive.com". https://www.electrive.com/2021/02/01/daimlers-denza-x-struggles-in-china/. 
  18. ↑ "Mercedes-Benz Media" (in en). https://media.mercedes-benz.com/. 
  19. ↑ Zhang, Phate (2022-08-24). "BYD's Denza brand officially launches D9 MPV in China" (in en-US). https://cnevpost.com/2022/08/24/byds-denza-brand-officially-launches-d9-mpv-in-china/. 
  20. ↑ "BYD to Open 270 Denza Brand Stores in China by Year’s End" (in en). https://www.yicaiglobal.com/news/byd-to-open-270-ev-brand-denza-stores-by-year-end. 
  21. ↑ "Denza Inception Unveiled On The Chengdu Auto Show In China" (in en). https://carnewschina.com/2022/08/27/denza-inception-unveiled-on-the-chengdu-auto-show-in-china/. 
  22. ↑ "Chińczycy skopiowali niemieckie auto. Każdy pozna, co udaje" (in pl). 2023-03-08. https://e.autokult.pl/denza-n7-chinczycy-znow-sie-zapatrzyli,6874181603502816a. 
  23. ↑ "Denza N8 is an expensive BYD Tang sibling. To launch this year" (in en). https://carnewschina.com/2023/03/29/denza-n8-is-an-expensive-byd-tang-sibling-to-launch-this-year/. 

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