Daimler and BYD announce details of electric vehicle joint venture
Announced at the EV – The Future event in Shenzen, China today, it follows nearly two years of development since the BDNT joint venture contract was signed in May 2010. DENZA products will be designed, built and priced for Chinese consumers, with the name derived from a phonetic translation of the Chinese characters meaning ‘rising power and momentum’.
Speaking at the launch, Ulrich Walker, chairman and chief executive officer of Daimler Northeast Asia and chairman of the board of directors of BDNT, explained: ‘The exciting new DENZA brand is a highly visible seal of approval for the leading-edge design, technology and personality of the new car which we are convinced will resonate with customers here in China.’
Mr. Wang Chuanfu, chairman and president of BYD and member of the board of directors of BDNT, added: ‘We have the ideal partner in Daimler. BYD provides experience in battery technology and e-drive systems, as well as bringing EVs into operation on the streets of China. In connection with Daimler’s design of premium autos, knowhow in electric vehicle architecture and safety, and more than 125 years of experience in automotive excellence, DENZA is on the right track to become the leader in the New Energy Vehicle market in China.’