Denza

For the Italian composer, see Luigi Denza.
Shenzhen BYD Daimler New Technology Co., Ltd.
(trading as Denza)
Private joint venture
Industry Automotive
Founded May 2010
Headquarters Shenzhen, Guangdong, China
Area served
 China
Key people
 Lian Yubo (CEO)[1]
Products Automobiles
Owner BYD Auto (50%)
Daimler AG (50%)
Website www.denza.com

Shenzhen BYD Daimler New Technology Co., Ltd., trading as Denza, is an automobile manufacturing company headquartered in Shenzhen, China, specialising in luxury electric cars and an equally owned joint venture between BYD Auto and Daimler AG. Founded in May 2010, as of late 2014 the company produces a single model with an all-electric range of up to 300 km (190 mi). The car was initially put on sale in select Chinese cities only.[2]

Name

An invented name from the Chinese Tengshi (simplified Chinese: 腾势; traditional Chinese: 騰勢; pinyin: Téngshì), Denza means something like "rising power and momentum".[3] Alternative translations include "win power" or "winning circumstances".

History

On 1 March 2010, BYD Auto and Daimler AG signed a memorandum of understanding for the joint development of electric vehicles.[4] That initial link-up led to the creation of a new, equal-ownership legal entity, Shenzhen BYD Daimler New Technology Co., Ltd., which was formally established on 27 May 2010[5][6] and received a business license from the Chinese state in March 2011.[7] Its brand name, Denza, debuted in March 2012, and a new energy vehicle (NEV) concept car was first shown in April 2012 at the Auto China motor show in Beijing.[8] It was expected that this product would be offered as a luxury car.[9]

While its initial product was set to be launched in Beijing, Shanghai, and Shenzhen in September 2014,[10] in June of that year the launch date was pushed back to late 2014,[11] and the car debuted in December of that year.[2]

Operations

In 2013, Denza was constructing its assembly plant in Pingshan, Shenzhen, which was set to have an annual capacity of 40,000 vehicles.[12]

Government subsidies

Successful sales may depend on subsidies provided by the Chinese government. The chairman of the Chinese co-owner of Denza expressed his hope that these would be in place by mid-2013,[13] and many of the press releases posted on the Denza website concern subsidies.[14] Prior electric car grants were in effect for only two years starting in 2010,[13] but in September 2013 a scheme providing cash payments to buyers of all-electric and hybrid vehicles was established.[15]

When it was launched in December 2014, purchasers of the car qualified for a RMB 78,000 subsidy[2] and while the total subsidy on offer depends on location of purchase, no more than RMB 120,000 can be deducted.[10] Subsidies also increase demand for the car in other ways, too, and as of 2014 purchasers were exempted from Beijing's license plate lottery and qualified for free plates in Shanghai and Shenzhen.[10]

Models and products

Denza all-electric concept car at Auto Shanghai 2013

Initially, a single, eponymous model was on offer.

Dealerships

As of December 2014, Denza boasts three dealerships one each in Beijing, Shanghai, and Shenzhen.[16] The company aims to put the car on sale in Guangzhou, Hangzhou, and Tianjin soon.[10]

References

  1. ↑ "Auto Show Concludes, China Brands Rise". CRI English. 3 May 2012. Retrieved 20 May 2012.
  2. 1 2 3 Pugliese, Tony (8 December 2014). "CHINA: BYD-Daimler launches new Denza EV". just-auto.com. Aroq Ltd. Retrieved 4 January 2015.
  3. ↑ "Brand". denza.com. Shenzhen BYD Daimler New Technology Co., Ltd. Retrieved 18 May 2012.
  4. ↑ "UPDATE 2-Daimler and BYD sign agreement on electric cars". reuters.com (Thomson Reters). 1 March 2010. Retrieved 23 Sep 2013.
  5. ↑ "Daimler and BYD Put Electric Car Venture in Gear". The New York Times. 28 May 2010. Retrieved 20 May 2012.
  6. ↑ "Company". denza.com. Shenzhen BYD Daimler New Technology Co., Ltd. Retrieved 20 May 2012.
  7. ↑ "Joint Venture between BYD and Daimler Receives Business License". BYD Auto. 2011-03-01. Archived from the original on July 8, 2011.
  8. ↑ For brand name debut, see "Daimler and BYD launch new electric car brand". China Daily. 31 March 2012. Retrieved 18 May 2012.
  9. ↑ Lau, Shirley (23 Sep 2013). "Hybrid Hothouse". Money Magazine. South China Morning Post. Retrieved 29 September 2013.
  10. 1 2 3 4 "Daimler-BYD Joint Venture’s New All-Electric Vehicle DENZA unveiled at Auto China". Daimler Global Media Site. Daimler AG. 21 April 2014. Retrieved 10 April 2016.
  11. ↑ "Daimler expects sales to surpass Audi, BMW in China this year". reuters.com. Thomson Reuters. Jul 6, 2014. Retrieved 25 July 2014.
  12. ↑ "BYD-Daimler JV builds Denza EV production line in Pingshan, Shenzhen". Just Auto. 18 April 2013. Retrieved 23 April 2013.
  13. 1 2 Alison Leung and Fang Yan (Mar 25, 2013). "UPDATE 1-China to resume electric car subsidies - BYD chairman". reuters.com. Thomson Reuters. Retrieved 23 September 2013.
  14. ↑ "Home > News > Incentives". denza.com. Shenzhen BYD Daimler New Technology Co., Ltd. Retrieved 23 September 2013.
  15. ↑ "Even the Chinese government can’t command progress on electric cars". Quartz. Atlantic Media Company. September 22, 2013. Retrieved 23 September 2013.
  16. ↑ "Dealer Information". denza.com. Shenzhen BYD Daimler New Technology Co., Ltd. Retrieved 4 January 2015.

External links

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