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Daimler reduces Denza’s share to ten percent

The car manufacturer Daimler is significantly reducing its stake in the electric car joint venture Denza.

The cooperation partner, the Chinese BYD Auto Industry, will hold 90 percent of the company in the future, Daimler announced on Friday. The Stuttgart-based company is satisfied with the remaining ten percent. Denza was founded as a 50-50 joint venture in March 2012. The transaction is expected to be completed in mid-March 2022.

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STUTTGART (dpa-AFX)

Image source: wegosi / Shutterstock.com, Vladi333 / Shutterstock.com, Vytautas Kielaitis / Shutterstock.com

Reference-www.finanzen.at

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