Daimler and BYD Agree on Future Establishment of Joint Auto Venture DENZA

(Source: DENZA)

Daimler Greater China Ltd. and BYD Auto Industry Co., Ltd. on December 24 signed an equity transfer agreement to realign the structural setup of their joint venture, Shenzhen DENZA New Energy Automotive Co., Ltd. Following the transfer, Daimler will hold 10% of the equity interest, while BYD will hold 90%. The equity transfer is subject t…