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BYD, the Chinese automotive giant, has denied rumors circulating in the Chinese media about a potential purchase of Mercedes-Benz's Maybach brand. A spokesperson for BYD confirmed to Reuters that there is no decision regarding the sale of Maybach.
The speculation surrounding a potential collaboration or competition between BYD and Maybach arose due to the mention of both brands in the same context. However, the spokesperson clarified that these rumors are merely market speculation.
In a significant move, BYD is set to launch its luxury SUV, the Yangwang U8L, next week. Priced at 180k USD and weighing 3.6 tons, the SUV is expected to make a strong entry into the luxury vehicle market.
BYD's ambitious plans extend beyond the launch of its luxury SUV. The company aims to sell around 1 million cars overseas by the end of 2025, signifying a major growth push. To support this expansion, BYD has boosted its capital by 200% to 1.28B USD.
Chairman Wang, who heads BYD, has been instrumental in the company's growth and strategic decisions. The spokesperson confirmed this statement to Reuters.
It is important to note that Maybach is a part of Daimler's product portfolio, which includes Mercedes-Benz. The current ownership of the Maybach trademark rights in China is not explicitly stated in the available search results.
Despite the denial of the rumors, the potential for future collaboration or competition between BYD and Maybach remains intriguing. As both brands strive to make their mark in the luxury vehicle market, it will be interesting to see how their paths intersect in the future.
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