AutoBeta(AutoBeta.net)02/11 Report--

Auto Industry focus (autochat.com.cn) reported on February 11th--

BYD will increase its investment in the "Tengli" electric car brand. BYD issued an announcement that the board of directors passed a bill to increase the capital of Shenzhen Tengli New Energy Automobile Co., Ltd. By 200 million yuan. After the capital increase, BYD's stake in Tengli New Energy remains at 50%, while Daimler holds another 50%.

Statistics show that due to poor performance, subsidy policies and other face-to-face influence, BYD and Daimler increased their capital by 1 billion yuan in 2017 and another 800 million yuan in 2018. Now they continue to increase capital, and the momentum can only rely on shareholders' capital increase to make a living. Data show that Tengli New Energy lost 477 million yuan in 2017.

Shenzhen Teng Teng New Energy vehicle Co., Ltd. was established in February 2011. it is positioned as a high-end commercial electric vehicle. It has launched only one electric car, Tencent 500, with a subsidized asking price of 300000 yuan for eight years. There has been little momentum for new product launches, with sales figures of just 900 units from January to October 2018, which have been poor in recent years, with 2888 in 2015, 2287 in 2016 and 4713 in 2017.

In October 2018, in order to increase sales, the joint venture brand between Daimler and BYD announced that it would strengthen its cooperation with Mercedes-Benz dealer group and add 26 Mercedes-Benz joint distribution stores in 20 cities, covering the country's first-tier and most provincial capitals. When selling cars at Mercedes-Benz dealers, it is expected that the sales of Tengli will improve, but what Tengli urgently needs to solve is the product problem. Only one model is on sale for a brand, which is really embarrassing.

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