BYD Company (OTCPK:BYDDF) acquired full control of its joint venture with Mercedes-Benz (OTCPK:MBGAF) in China as it bought the remaining 10% stake in Shenzhen Denza New Energy Automotive, according to a CnEVPost post.

Mercedes-Benz has withdrawn from its Denza joint venture with BYD in China after selling off its remaining 10% equity. This comes a few years after BYD increased its stake in the JV to 90% in

Chinese partnership: in 2011, Daimler and the Chinese car manufacturer BYD founded the joint venture Denza to jointly produce low-cost cars for the Chinese market. After reducing its stake in 2021, the Stuttgart-based company has now exited Denza completely.

BYD now has full control over Denza, a luxury-car brand originally founded as a joint-venture between it and Mercedes-Benz in 2010.

Mercedes-Benz has sold its remaining 10% stake in premium EV and hybrid maker Denza to BYD in the wake of disappointing sales locally.

Chinese automaker BYD Co. has moved to fully control a joint venture it had in China with Mercedes-Benz Group AG, as an increasing number of foreign carmakers dial back their exposure to the world’s biggest auto market.

Chinese automaker BYD Co has moved to fully control a joint venture it had in China with Mercedes-Benz Group AG, as an increasing number of foreign carmakers dial back their exposure to the world’s biggest auto market.

BYD now wholly owns Denza, a brand it formed with Mercedes-Benz in 2010, after the German firm reduced its involvement over the years.

The brand's current generation of cars don't feature any technologies from Mercedes, so customers won't notice any differences

Benz, gaining complete control of the Denza brand amid rising trade tensions. The partnership lasted 13 years, ending as Mercedes reduced its stake due to poor sales while Denza's new models gained popularity.