Daimler and BYD agree on future setup of DENZA joint venture

German luxury automaker Daimler and its long-term Chinese partner BYD Auto signed an equity transfer agreement to realign the structural setup of their joint venture Shenzhen DENZA New Energy Automotive Co., Ltd. (DENZA). Both partners intend to complete an equity transfer in DENZA. Following the equity transfer, Daimler will hold an equity interest of 10% […]