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China

BYD’s Luxury Brand Denza To Release Three More Models This Year: CEO

Denza, a luxury auto brand majority-owned by China’s BYD, said on Monday that it plans to introduce three new electric vehicle models this year as part of its bid to seize market share, Chinese media reported, citing BYD’s chairman Wang Chuanfu. At a press conference on Monday, the Chinese EV giant also released the D9, a multi-purpose vehicle under the Denza brand with a starting price of RMB 335,000 ($49,413). Denza was first co-developed by BYD with Daimler in 2010, with each firm holding a 50% stake in the joint venture. BYD acquired another 40% of the company’s shares from the German group last December.