Daimler-BYD EV joint venture names China sub-brand Denza
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SHENZHEN -- BYD Daimler New Technology Co., an electric vehicle joint venture between Daimler AG and BYD Co., has unveiled the name Denza for its vehicle sub-brand.
A Denza concept car, based on the old-generation Mercedes B class, will debut at the Beijing auto show later this month. The car will go into production in 2013.
BYD Daimler New Technology, a 50-50 joint venture between Daimler and BYD, was incorporated last year in Shenzhen where BYD is headquartered.
Under the joint-venture agreement, Daimler will provide expertise in EV architecture and safety while BYD contributes batteries and the e-drive system.
The vehicle will cost more than BYD's own E6 electric car, which sells for 249,800 yuan ($39,600) to individuals after government subsidies.
The Denza brand name is Teng Shi in Chinese, meaning "rising power and momentum." The brand is created with "a focus on Chinese consumers," Daimler said in a statement last week.
The logo is a water drop supported by two hands, with the blue water-drop indicating the environmental friendliness of electric vehicles and the two hands representing the joint venture's two partners, according to Daimler.
Automotive News Europe contributed to this report
