After eleven years of going around, Denza returned to BYD.
On December 24, BYD Automobile and Daimler Greater China signed an equity transfer agreement to adjust the structure of its joint venture, Shenzhen Denza New Energy Automobile Co., Ltd.
After the completion of the transfer, Daimler Benz reduced its holdings from 50% to 10%, and BYD increased its holdings from 50% to 90%. Because it involves the approval of the relevant regulatory authorities, the final equity change of Denza will be completed by mid-2022.
It is worth mentioning that the two sides have adopted the method of increasing capital first and then changing. On the same day, before the change of equity between the two parties, BYD and Daimler first increased the capital of Denza by 1 billion yuan in the form of currency according to the proportion of shareholding.
This also proves from the side that the equity change between the two sides is smooth and harmonious.
Change the day
Daimler and BYD's equity delivery of the joint venture company is clean and neat, but as the first joint venture new energy vehicle joint venture company in China, it is worth exploring where the momentum that has existed for 11 years is worth exploring.
It is an indisputable fact that de Espresso market performance is not good.
Since the launch of Denza's first electric vehicle in 2014, Denza's cumulative sales in 2015-2020 have been only 18,000 units. The cumulative number of insurance on the Denza X from January to October this year is only 4139.
Since the sales are not good, you have to keep transfusing blood.
According to public information, from 2012 to 2021, both shareholders have increased the capital of Denza 12 times, with a total capital increase of more than 7 billion yuan.
There is a very crisp voice - deforestation equity change, because of the loss of money.
In fact, this view is debatable. Since the launch of Denza's first product, it has been 7 years, if both shareholders withdraw because of loss of money, can it be 1 year ago, can it be 3 years ago?
Losing money every year and transfusing blood every year shows that the survival of Denza is not simply to make money for both sides.
Yang Plot
Eleven years have passed, and Denza has finally reached a crossroads.
Instead of giving Denza a failure theory, it is better to give Denza a mission finale.
Denza, from the beginning of its birth, has been carrying by BYD and Daimler's respective - Yang Plot.
At the beginning of the establishment, the two sides agreed that by BYD, the core electric drive technology used in the vehicle should be responsible, and the design and chassis adjustment of the vehicle would be undertaken by Mercedes-Benz.
What BYD has is exactly what Mercedes-Benz lacks; what Mercedes-Benz has is exactly what BYD needs to make up.
At that time, Mercedes-Benz did not have a pure electric car on sale, and BYD's new energy was still on the eve of the outbreak.
Denza is like a bridge, allowing Daimler and BYD to come and go, each taking what they need.
11 years have passed, Daimler is not human, and BYD is no longer the Wuxia Amun.
Nowadays, Mercedes-Benz has gone from EQC to EQS, from oil to electricity to large pure electric architecture and mass production.
BYD has also grown from a small Lotus talent to a world-class new energy giant.
Obviously, Denza's historical mission is over, and Daimler and BYD have got what they deserve.
Since Denza's mission has been completed, why doesn't Daimler back clean?
This 10% stake is a thought, but also an incense.
On the one hand, in the world, BYD is the absolute leader of the lithium iron phosphate battery route.
On the other hand, Europe's electric industry chain has just started, and Daimler can have a BYD battery giant as a partner, which is a beneficial and harmless thing.
Equity is there, the relationship is there, the relationship is there, the basis and possibility of cooperation are there.
Win-win
The past momentum itself is in a game game. Although it looks like both ends are stained, in fact, Denza does not lean on both ends.
For Daimler, Denza is a medium for learning electric vehicles, and the ultimate goal is to feed Mercedes-Benz. For BYD, the development of the BYD brand is much higher than that of Denza.
After the equity change, Denza has completely become a sub-brand of BYD. Such a momentum, whether it is for denza or BYD, is a win-win situation, and there is only benefit and no harm.
On the one hand, Denza's product line is not complicated, and there is only one product on sale at present, which is not complicated to sort out.
The pot is ready-made, the stove is ready-made, and continuing to cook on the fire is not a matter of hand.
On the other hand, because of Daimler's blessing, the Denza brand is also a rare high-quality asset.
BYD's plan to build a high-end brand has also been around for a long time, the Great Wall has Wei brand, Geely has Lynk & Co, Chery has Xingtu, Changan has Avita, and among domestic head car companies, only BYD lacks such a setting.
Denza returns, and BYD's high-end has a new path and a new fulcrum. What's more, BYD's product matrix also needs a Momentum.
At present, BYD Tang New Energy has the highest price in BYD's product line, but it is only in the 300,000 level, while the price of Denza X has reached 350,000.
BYD can fully take advantage of Denza's current brand positioning to enrich its product line. The gap between Tang New Energy and future high-end brands is making a big fuss.
In fact, BYD is doing the same.
BYD is reorganizing Denza and empowering DENZA with its successful experience. The reason why BYD is selling well, in addition to mastering core technology, another important reason is to highlight the cultural self-confidence of Chinese car brands.
Obviously, Denza also needs to be branded in the same way.
It's just that the challenge of Denza at the moment is the rhythm of BYD's product promotion.
According to the plan, the new Denza brand car will be launched in 2022. But 2022 will definitely not be a big year for Denza's products, and it will be counted as a product attempt at most.
We all know that in 2022, BYD's work focus has three, one is the expansion of the product line of the Ocean series, the second is the matrix improvement of the Dynasty series, and the third is to break through the last layer of window paper and launch BYD's own high-end brands that cost nearly one million.
Under the premise that the established rhythm remains unchanged, the year of Denza's power should be in 2023.
Denza's product rhythm is also highly in line with the rumors, and it is reported that denza will launch three new models in the next two years, including MPV and SUVs.
Once BYD frees its hand, Denza will usher in a real "Denza".
The future momentum makes people think of it, because it is different from the atmosphere and stability of Dynasty Network, and it is completely different from the young jump of the Ocean series, and it is also separated from the luxury and ultimate technology of BYD's future high-end brand.
These 11 years coincide with the 11 years that China's new energy vehicle manufacturing has become world-class, and it is also the 11 years since BYD has transformed from Wuxia Amon into a new energy giant.
Denza is back, and it's timely!