Daimler-BYD Says Zhongsheng Among Dealers That May Sell Denza
Daimler AG (DAI) and Warren Buffett-backed BYD Co. (1211)’s venture, developing electric cars under the Denza brand, said Zhongsheng Group Holdings Ltd. (881) is among dealers that may offer the vehicle in China.
Shenzhen BYD Daimler New Technology Co. plans to announce its Denza dealers for Beijing, Shanghai and Shenzhen by the end of July, said Hu Xiaoqing, manager at the venture’s marketing department. Porda Havas International Finance Communications Group, representing Zhongsheng for media queries, declined to comment.
The Denza cars would add to the growing number of all-electric vehicles being introduced in China, the world’s biggest auto market. SAIC Motor Corp. (600104), China’s biggest automaker, has been offering the Roewe E50 electric car since November, and is planning other zero-emission vehicles with its foreign partners. BYD sells the e6 electric car under its own brand.