Daimler sold half of DENZA shares
German concern Daimler had to reduce its stake in the DENZA joint venture to 10%.
Recall that Daimler owns DENZA and the Chinese brand BYD, and previously the Germans held 50% of their shares.
Daimler and BYD have been working together in China since 2010, building the company BYD Daimler New Technology Co, which makes hybrid and electric cars on behalf of DENZA.
Now BYD has a 90% stake in DENZA, while the Germans make do with 10%. No one is saying the reason for this, but Daimler and BYD say they are continuing their joint partnership for years to come. It is known that from 2022, DENZA will present many new products.