Chinese electric vehicle giant BYD and German automaker Mercedes-Benz are set to introduce a new co-branded luxury electric vehicle under Denza in 2024. Before that, the partners stirred up some interest by releasing a unit for road testing in Stuttgart.
BYD, Mercedes-Benz teased new Denza EV
BYD and Mercedes-Benz recently teased their new co-branded luxury electric vehicle, which is expected to make its debut as early as this year.
As you can see in the photos attached to the X post, the new Denza EV wears a heavy camouflage. Nonetheless, its sleek and aerodynamic design is very evident.
Denza claims the new model’s clean and streamlined design tops “in electric elegance that is sporty yet luxurious.” This is unsurprising, given that famous car designer Wolfgang Egger led the design of the new Denza EV.
Ex-Audi and Lamborghini brand designer Wolfgang Egger proudly said that the new vehicle’s design is “simultaneously spirited and deluxe.” The new EV also uses BYD’s new energy technology, with Denza marketing it to be “the pioneer in building Chinese new energy luxury sedans into world-class vehicles.”
BYD is also optimistic that the new model will significantly aid Denza’s global expansion push.
About Denza
BYD and Mercedes-Benz (Daimler) formally established the Denza brand in 2010 as a 50:50 joint venture. However, the German automaker has since cut its stake in the JV to just 10%. Therefore, BYD now controls the majority at 90%.
Denza was among the first JVs with a primary goal of cutting vehicle emissions. BYD was a battery giant then, with a significant push to advance as a major automaker.
Mercedes took the chance to team up with the determined Chinese company as China’s auto market started to transition to electric vehicles.
BYD’s Q1 2024 sales
BYD sold more than 300,000 all-electric vehicles in the first quarter of 2024, representing a 13% year-on-year increase. Meanwhile, its plug-in hybrid sales reached a total of 324,284 units in the same period, up 14.5% YoY.
As for the BYD and Mercedes-Benz JV, Denza’s new energy vehicle sales reached a total of 10,279 units in March 2024.
BYD and Mercedes-Benz’s new co-branded luxury EV is expected to hit the market by the end of 2024, potentially bolstering their sales performance in the following quarters. We expect to learn more about the model in its debut this year ahead of the market launch.
