A few days ago, BYD issued an announcement that BYD and Daimler intend to increase the capital of Denza New Energy by 1 billion yuan, and the capital increase funds are mainly used for the daily operating funds of Denza New Energy.
According to the announcement, after the completion of the capital increase of the shareholders of both parties, BYD Automotive Industry and Daimler will continue to hold 50% of the equity of Denza New Energy respectively. The capital increase is mainly used for the daily operating funds of Denza New Energy, which is conducive to promoting the sustainable development of Denza's new energy vehicle business and providing financial support for Denza New Energy to create better and more competitive products.
In the future, both shareholders will strategically plan to accelerate the future development of the "Denza" brand in the fast-growing Chinese new energy vehicle market and tap the growth opportunities of the "Denza" brand. At the same time, the Group will continue to deepen the core technology, formulate accurate strategies, seize the opportunities for the development of the industry, and increase the layout of the new energy vehicle business.