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You can tell the same story in multiple ways. Western media reported that Daimler restructured its stake in Denza, a joint venture with BYD. The Chinese websites went straight to the point: Daimler practically left the company, retaining only 10% of its shares. Both missed what may be behind the move: BYD’s new luxury brand.
One of the biggest blows from NIO Day 2021 was that the Chinese carmaker did not announce its affordable brand. In William Li’s words, it will be to NIO what Toyota is to Lexus. Perhaps the announcement didn’t happen because there are still discussions around the new brand. According to 36kr, it will have a crucial partner: BYD.
Can an automaker be among the most valuable ones without having a global presence? In times like these, in which Lucid is worth more than Ford, and Rivian more than GM, that is not so absurd. However, BYD reached a significant milestone: its market cap is now higher than that of Volkswagen and only below Tesla’s and Toyota’s.
When you have already written or read a lot about a vehicle, you expect new things about it to bring more information than what you had so far. Checking how the BYD Dolphin drive was what first attracted us to check the Fully Charged video about the new EV. Apart from the images, we have to say it offered very little that we did not know, but it was an excellent opportunity to complement what we missed.