Denza

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Shenzhen BYD Daimler New Technology Co., Ltd.
(trading as Denza)
Type Private joint venture
Industry Automotive
Founded May 2010
Headquarters Shenzhen, Guangdong, China
Area served China
Key people Lian Yubo (CEO)[1]
Products Automobiles
Owner(s) BYD Auto (50%)
Daimler AG (50%)
Website www.denza.com

Shenzhen BYD Daimler New Technology Co., Ltd., trading as Denza, is an automobile manufacturing company headquartered in Shenzhen, China, specialised in luxury electric cars and a 50:50 joint venture between BYD Auto and Daimler AG. It was founded in May of 2010. Sales are supposed to start in mid-2014 although an earlier launch date was touted prior.[2] The first production car of Denza will utilise the Mercedes-Benz B-Class platform.[3]

Name[edit]

An invented name from the Chinese Tengshi (simplified Chinese: 腾势; traditional Chinese: 勝勢; pinyin: Téngshì), Denza means something like "rising power and momentum"[4] or "winning potential".

History[edit]

Denza NEV 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 of 2012, and a concept car, the New Energy Vehicle (NEV), was first shown in April 2012 at the Auto China motor show in Beijing.[9] It is expected that this product will be offered as a luxury car.[10]

Operations[edit]

Denza is constructing an assembly plant in Pingshan, Shenzhen, which will have an annual capacity of 40,000 vehicles.[11]

Government subsidies[edit]

Successful sales may depend on subsidies provided by the Chinese government. The chairman of the Chinese co-owner of Denza expressed his hope that these would be in place by mid-2013,[2] and many of the press releases posted on the Denza website concern subsidies.[12] Prior electric car grants were in effect for only two years starting in 2010,[2] but in September of 2013 a scheme providing cash payments to buyers of all-electric and hybrid vehicles was established.[13]

References[edit]

  1. ^ "Auto Show Concludes, China Brands Rise". CRI English. 3 May 2012. Retrieved 20 May 2012. 
  2. ^ a b c Alison Leung and Fang Yan (Mar 25, 2013). "UPDATE 1-China to resume electric car subsidies - BYD chairman". reuters.com. Thomson Reuters. Retrieved 23 September 2013. 
  3. ^ Steitz, Christoph (Mar 24, 2012). "Daimler to present electric car for China-magazine". reuters.com. Thomson Reuters. Retrieved November 23, 2012. 
  4. ^ "Brand". Shenzhen BYD Daimler New Technology Co., Ltd. Retrieved 18 May 2012. 
  5. ^ "UPDATE 2-Daimler and BYD sign agreement on electric cars". reuters.com (Thomson Reters). 1 March 2010. Retrieved 23 Sep 2013. 
  6. ^ "Daimler and BYD Put Electric Car Venture in Gear". The New York Times. 28 May 2010. Retrieved 20 May 2012. 
  7. ^ "Company". Shenzhen BYD Daimler New Technology Co., Ltd. Retrieved 20 May 2012. 
  8. ^ "Joint Venture between BYD and Daimler Receives Business License". BYD Auto. 2011-03-01. 
  9. ^ For brand name debut, see "Daimler and BYD launch new electric car brand". China Daily. 31 March 2012. Retrieved 18 May 2012. 
  10. ^ Lau, Shirley (23 Sep 2013). "Hybrid Hothouse". Money Magazine. South China Morning Post. Retrieved 29 September 2013. 
  11. ^ "BYD-Daimler JV builds Denza EV production line in Pingshan, Shenzhen". Just Auto. 18 April 2013. Retrieved 23 April 2013. 
  12. ^ "Home > News > Incentives". denza.com. Shenzhen BYD Daimler New Technology Co., Ltd. Retrieved 23 September 2013. 
  13. ^ "Even the Chinese government can’t command progress on electric cars". Quartz. Atlantic Media Company. September 22, 2013. Retrieved 23 September 2013. 

External links[edit]