Jointly-owned Shenzhen BYD Daimler New Technology has announced a new own brand entitled Denza, Xiaoxiang Morning Herald reported on March 31. The new brand will focus on developing electric vehicles for the Chinese market.
The Shenzhen BYD Daimler New Technology joint venture came as a surprise to many when it was first announced two years ago. The agreement, codenamed Project Tiger, has led all the way to this week's announcement of the new own brand, signifying that cooperation between the two companies has progressed rather smoothly. Denza will be the first own brand in China focusing around EVs. Although BYD Chairman and President Wang Chuanfu has yet to reveal any specific details, the brand's first model is speculated to be built on the Mercedes-Benz B-Class platform, with an expected market debut date of 2013.
Shenzhen BYD Daimler New Technology Chairman Ulrich Walker (pictured) believes that the market for new energy vehicles in China has considerable potential, which both Daimler and BYD are hoping to unearth with the new EV-focused brand. According to reports, Daimler supplies automobile design and safety technology for the JV, while BYD provides battery, engine and electronic technology. According to Mr. Walker, the JV will not limit development to only pure electric vehicles, but has also begun researching hybrid technology, believing it is an important step in popularizing new energy vehicles.
"The [Denza] model will rely on domestic sales," Mr. Wang said, adding that sales overseas were in the brand's future. Whether or not the first Denza will be built at the Changsha, Hunan production site has yet to be determined.
BYD currently has two pure electrics available: the E6 and the K9 bus. The former has found service as a taxi in Shenzhen, with 300 units currently making rounds around the city. The latter, meanwhile, has been on Changsha's public bus line for over a year now.
