Per reporter: Sun Tongtong Per editor: Fan Wenqing
On the evening of December 24, BYD (002594. SZ) announced that BYD and Daimler intend to increase the capital of Shenzhen Denza New Energy Automobile Co., Ltd. (hereinafter referred to as "Denza") by 1 billion yuan in monetary terms according to the proportion of shareholding. After the completion of the capital increase of both shareholders, BYD and Daimler will continue to hold 50% of deforestation's shares respectively.
Image source: BYD announcement
In addition to the capital increase, the two sides also adjusted deforestation's future equity. After the completion of the equity adjustment, BYD and Daimler will hold 90% and 10% of the shares of Denza respectively, and the equity adjustment is subject to the approval of the relevant regulatory authorities, and the capital increase and equity adjustment will be completed in the first half of 2022.
"BYD will pour more resources and core technologies into denza's business, help Denza to a new level in product research and development, intelligent manufacturing, channels and sales services, and work with Daimler to promote the better and faster development of the Denza brand." On the basis of Denza's business cooperation, the two sides will further deepen the partnership and expand the scope of cooperation. BYD said.
According to the plan, Denza expects to launch three new products in the Chinese market in the next two years, including MPV and SUV models. The Denza operations team will ensure that existing Denza customers continue to receive relevant customer service.
In fact, in the field of electrification, the Denza brand started earlier. According to public information, Denza was established in 2011 as a technology joint venture jointly established by BYD and Germany Daimler in a 50:50 equity ratio, with an initial registered capital of 2.36 billion yuan, and Wang Chuanfu, chairman of BYD Automobile, served as the director of Denza Automobile, becoming the first Sino-foreign joint venture company focusing on new energy vehicles in China.
Image source: Per reporter Zhang Jian photographed (data map)
At the beginning of the birth of the Denza brand, Wang Chuanfu said: "As a child of Daimler and BYD, Denza Automobile is a brand born on the shoulders of giants. ”
In terms of products, Denza Automobile entered with the positioning of high-end new energy vehicles, and launched its first model , Denza , in 2014, and then made two remodels in 2017 and 2018, increasing the cruising range from the initial 300 km to 451 km.
The capital increase and share conversion revealed the determination of both shareholders to reorganize the momentum. "BYD and Daimler are confident in the growth potential of China's new energy vehicle market, and BYD will give greater operational support to promote Denza's future success, while Daimler will continue to support Denza as a shareholder." BYD said.
"Daimler and BYD have established a solid and trusting partnership, and the two sides have jointly planned for denza's future development and made rapid decisions to better capture market opportunities. Daimler and BYD will continue to advance their successful long-term partnership in terms of battery supply. Daimler said.
In response to the reporter's question about the change of management personnel, BYD responded that in the future, Alex Ai will continue to serve as the CEO of Shenzhen Denza New Energy Automobile Co., Ltd. Zhao Changjiang will serve as the general manager of depressive sales division.
Some analysts believe that the capital increase and share transfer to BYD, Daimler and Denza brands have formed a positive, and a series of adjustments may help dextera brands to develop well.
It is understood that in 2022, BYD will launch a high-end brand, the price range is expected to be more than 50-1 million yuan, in terms of brand, product, sales and service network, operation team, are new and independent, the first model is a hardcore off-road vehicle. In the future, BYD's automotive business will be composed of four sectors: Dynasty Network, Ocean Network, Denza and high-end brands.
For Daimler, China's new energy vehicle market has great potential for capital increase, and as a shareholder of Denza, Daimler will also gain something from it and help it accelerate its electrification transformation.
Daily economic news