Daimler Agrees to 10% Stake in DENZA Joint Venture; BYD to hold 90%

• (PLX AI) - Daimler and BYD agree on future setup of DENZA joint venture.
• • Daimler and its long-term Chinese partner BYD signed an equity transfer agreement on the future setup of the DENZA joint venture
• • According to the agreement, both partners intend to complete an equity transfer in DENZA
• • Following the equity transfer, Daimler and BYD will hold 10% and 90% equity interest respectively
• • Both Daimler and BYD remain dedicated to their successful long-term partnership
• • DENZA brand to seek further growth opportunities with new models in 2022
• • Daimler and BYD are confident in the growth potential of the new energy vehicle market in China