BYD has acquired the remaining ten percent of Mercedes-Benz’s shares in the formerly jointly founded EV company Denza. According to Bloomberg, the BYD announcement did not specify the value of the transaction, and Mercedes-Benz representatives in China initially declined to comment. BYG and Mercedes founded the Denza car brand in 2011 under the company name Shenzhen BYD New Energy, each holding 50 percent of the shares. The company focused on premium electric vehicles; due to poor sales figures, Mercedes reduced its stake to ten percent in 2021.