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May
23rd

Daimler, BYD to recapitalize unprofitable EV joint venture in China

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Daimler and BYD will each invest 500 million yuan ($72.6 million) to shore up their debt-laden EV joint venture in China. The partnership has been unprofitable since 2014, when its sole model, the Denza EV compact sedan, hit the market.
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