BYD

The Denza EV concept has made its world premiere at the 2012 Beijing motor show, previewing the first production car developed under the joint venture between German powerhouse Daimler and domestic manufacturer BYD. The Denza EV is the product of around two years of development and more than 200 engineers and experts from the Shenzhen BYD Daimler New Technology (BDNT) collaboration, which was created in 2010.

Reports from India this morning say Germany's Daimler is set to sell its long-time stake in Tata Motors. Daimler, who own a 5.34 per cent stake in the Indian company, gave no comment on a its decision to sell the shares. Estimates put Daimler's return on the sale at US$429 million (AUD$470 million). The news comes as Daimler forms a number of new automotive partnerships, recently purchasing shares in both US firm Tesla Motors and China's BYD.