China cooperation
Mercedes-Benz pulls out of joint venture with BYD
The dream is over: Mercedes-Benz has completely exited the Chinese joint venture Denza with the electric car top dog BYD (Build Your Dreams).
The German company has sold its remaining ten percent stake in BYD, as confirmed by a company spokesperson on Tuesday. The Stuttgart-based company did not wish to disclose the purchase price.
Mercedes had already decided in 2021 to focus on its own brand in China and also reduced its share in the joint venture.
In 2010, the then Daimler Group and BYD decided to collaborate on electric cars. BYD is now the market leader in the People's Republic of China, the world's largest car market, ahead of Volkswagen.
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