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18-574: Fangchengbao vehicles will be exported outside China under the Denza brand. In 2023, BYD Auto launched two new brands: Yangwang, a line of advanced vehicles introduced in January, while Fangchengbao was announced on June 9, 2023. "Fangchengbao" translates to "leopard equation," and the logo reflects this mathematical concept. On August 16, 2023, Fangchengbao released its first model, the Bao 5. It debuted at

36-872: A memorandum of understanding for the joint development of electric vehicles. The initial link-up led to the creation of a new, equal-ownership legal entity, Shenzhen BYD Daimler New Technology Co., Ltd. The company was formally established on 27 May 2010 and received a business license from the Chinese government in March 2011. The brand name Denza was introduced in March 2012. During its introduction, BYD chairman and founder Wang Chuanfu highlighted that BYD contributes its expertise in battery technology, electric drive systems, and practical experience in deploying electric vehicles on Chinese roads, while Daimler complements this with its experience in designing premium automobiles, know-how of electric vehicle architecture and safety, and

54-414: A Tank instead." This article about an automotive industry corporation or company is a stub . You can help Misplaced Pages by expanding it . Denza Shenzhen Denza New Energy Co., Ltd. , trading as Denza ( Chinese : 腾势 ; pinyin : Téngshì ), is an automobile manufacturing company and brand owned by BYD Auto . The brand produces premium plug-in electric vehicles . The company

72-549: A fully owned subsidiary of BYD. Wang Chuanfu Wang Chuanfu ( Chinese : 王传福 ; born 8 April 1966) is a Chinese chemist, billionaire entrepreneur, and the founder, chairman and CEO of BYD Company . Wang was born in Wuwei County , Anhui province to a family of poor farmers. While in high school he was cared for by his elder brother and sister because both of his parents had died. After high school, he studied metallurgical physical chemistry ( 冶金物理化学 ) at

90-659: A legacy of over 125 years in the industry. Denza showcased its first concept car in April 2012 at the Auto China motor show in Beijing . It was expected that this product would be offered as an electric luxury car. By September 2014, BYD and Daimler had jointly invested more than €300 million into the joint venture. The brand's initial product was set to be launched in Beijing , Shanghai , and Shenzhen in September 2014,

108-651: The Chengdu Auto Show and based on an Fangchengbao-specific body-on-frame platform called DMO (Dual Mode Off-road). The brand also revealed a prototype of its upcoming flagship, the Super 8 SUV, which is set for release in 2024 as the Bao 8. Production of the Bao 5 began in September, with the official market debut in China following in November. Within three days of the launch, the company reported 10,000 orders for

126-583: The Z9 full-size car. In September 2024, Mercedes-Benz withdrew entirely from the joint venture by transferring its remaining 10% stake to BYD. An invented name from the Chinese Tengshi ( simplified Chinese : 腾势 ; traditional Chinese : 騰勢 ; pinyin : Téngshì ), Denza roughly translates to "rising power and momentum ". Alternative translations include "win power" or "winning circumstances". On 1 March 2010, BYD Auto and Daimler AG signed

144-463: The Bao 3, a battery electric SUV that will be the most affordable model in its lineup. Initially, the brand established its own directly-operated sales stores, in contrast with BYD that relies on a dealership network. In June 2024, Fangchengbao started recruiting dealerships to increase its reach. The first batch of dealer recruitment was open to China's 22 provinces, four municipalities and five autonomous regions. In July 2024, Fangchengbao lowered

162-527: The Denza EV underwent extensive body restyling, changing its name to Denza 500 . In November 2019, Denza presented its second model based on the second-generation BYD Tang . The vehicle was designed with significant participation of Mercedes-Benz designers, which handled exterior and interior design. Sales of the Denza X started at the end of 2020 exclusively on the Chinese market. In February 2021,

180-700: The German business daily Handelsblatt reported that the relations between Denza's co-owners were in crisis, as its sales did not meet the expectations of Daimler, which allegedly expressed a desire to end the venture. However, this information was denied. Changes in the joint venture structure was announced in December 2021. The unpopular Denza X SUV was discontinued, and the alliance changed its name to Shenzhen Denza New Energy Vehicle Co., Ltd. In turn, Mercedes-Benz Group reduced its shares from 50% to 10% in favor of BYD's higher stake of 90%. The first model since

198-600: The launch date was then pushed back to late 2014. Its first model, the Denza EV debuted in December 2014. When Denza launched its first car, sales of new energy vehicles depend on subsidies provided by the Chinese government. Purchasers of the car were qualified for a RMB 78,000 subsidy and while the total subsidy on offer depends on location of purchase, no more than RMB 120,000 can be deducted. As of 2014, buyers were exempted from Beijing's license plate lottery and qualified for free plates in Shanghai and Shenzhen. In 2018,

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216-479: The model. At the Beijing Auto Show in April 2024, Fangchengbao revealed its expansion plans by announcing the flagship Bao 8 model, the compact Super 3 (previewing the upcoming Bao 3 ), and the Super 9 sports car prototype. During the event, general manager Xiong Tianbo confirmed the brand's initial success, reporting 20,000 cars sold in China within six months. In June 2024, Fangchengbao introduced

234-413: The price of the Bao 5 model by 50,000 yuan in China to improve its competitiveness against Great Wall Motor 's popular Tank series. This price cut led to dissatisfaction among early buyers, some of whom organized protests at Fangchengbao dealerships. Protesters displayed banners with statements such as, "I waited 3 months for car delivery, then Fangchengbao cuts 50,000 yuan in one day. I should have bought

252-588: The restructuring, the Denza D9 minivan was introduced in August 2022. The D9 is available in plug-in hybrid and battery electric variant. At the same time, the company announced the expansion of its dealer network in China with a plan to open 270 new points by the end of 2022 throughout the country. In March 2023, Denza introduced its second new model after restructuring, the Denza N7 battery electric SUV. In

270-664: The same month, the range was expanded with a larger SUV Denza N8 , which is based on the Denza X . Denza plans to release product lines starting with the D, E, N, Z, and A letters. In June 2024, Denza started sales of the right-hand drive D9 EV in Hong Kong . It opened its first flagship store in Kowloon Bay , which is the first presence of the brand outside mainland China . In September 2024, Mercedes-Benz transferred its remaining 10% shareholding in Denza to BYD, making Denza

288-720: The then Central South Industrial University (nowadays the Central South University ) and graduated in 1987. He went on to earn a master's degree in 1990 from the Beijing Non-Ferrous Metal General Research Institute ( 北京有色金属研究总院 ; now GRINM Group). He spent several years as a government-sponsored researcher, but in 1995 he entered the private sector and founded his own company, BYD Company, outside of Shenzhen . Founded with his cousin Lu Xiangyang when he

306-627: Was 29 years old, BYD Company is currently the world's largest mobile phone batteries manufacturer. In early 2009, he was reportedly worth US$ 3.4 billion, placing him 408th on Hurun Report's Global Rich List 2014. In late 2009, his net worth grew to $ 5.1 billion and was crowned China's richest man on the Hurun Report . This was due largely to a five-fold increase in his company's value after Berkshire Hathaway bought 225 million new shares of BYD in 2008. In November 2021, Forbes reported that Wang's wealth had increased to $ 23.5 billion, making him

324-621: Was founded in May 2010 as a joint venture between BYD Auto Industry and Daimler AG (currently Mercedes-Benz Group ). In late 2014, its first model, the Denza EV was put on sale in selected Chinese cities only. In late 2021, Denza underwent a restructuring as Mercedes-Benz reduced its share to 10%, while BYD held the rest. BYD started investing in new models, such as the D9 MPV, the N8 and N7 SUVs and

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