BYD, China's leading electric car maker, has taken full control of the joint venture it shares with Mercedes-Benz in the country.
The venture, established in 2011, focuses on marketing the premium electric vehicle (EV) brand Denza.
Initially, both companies held an equal stake, but Mercedes gradually reduced its share to 10% due to lackluster sales.
BYD has now acquired the remaining shares, ending the 13-year partnership.
The move comes at a time of growing trade tensions between China and Europe, as the European Commission is considering tariffs of up to 36.3% on Chinese EV imports.
Denza, now under the full control of BYD, the company recently released its luxury van known as the D9 minivan, which has become the best-selling van in its category for 2023.
The brand is also set to launch the Z9GT model with a starting price of US$47,900.
