BYD and Daimler’s Denza Reaches Strategic Cooperation With Tencent in ESG Field

Denza, a joint venture between Chinese automaker BYD and Germany’s Daimler AG, on December 16 reached a strategic partnership with the carbon neutrality laboratory under the Tencent Sustainable Social Value (SSV) unit.

The two sides will focus on new energy vehicle travel, carbon inclusiveness, promotion of carbon neutral awareness, environmental protection and public welfare, among other things. They will carry out innovative project cooperation in combination with the advantages of both companies to jointly disseminate and promote carbon neutral related projects.

SEE ALSO: Denza’s First Mid-Size SUV Concept Car Unveiled

On the basis of reducing carbon emissions and being environmentally friendly, Denza also launched a public welfare activity for school children in rural areas across China, donating books and helping rural children’s growth with the light of knowledge.

Denza D9 (Source: Denza)

In May this year, Denza released its first model, a medium to large-sized luxury MPV named Denza D9, priced from 329,800 yuan ($47,232). Denza D9 has seven versions with DM-i super hybrid and EV pure electric power. 50% of Denza’s new customers previously bought Mercedes-Benz, BMW, Audi and other high-end brands. Sales data show that in November, Denza D9 sold 3,451 units, an increase of 886% from the previous month. The brand said that from the first quarter of next year, it will gradually launch new products.

On the other hand, Tencent is also accelerating its investment in carbon neutrality. In April 2021, the Chinese internet firm established an SSV division and announced that it would invest 50 billion yuan ($7.16 billion) in the first phase. At the same time, it specially set up a “carbon neutral laboratory.”

Since the establishment of SSV, Tencent has explored many fields such as basic science, educational innovation, rural revitalization, carbon neutrality, FEW (food, energy and water), public emergency, pension technology, digital culture and public welfare digitalization. Tencent Cloud and Smart Industries Group (CSIG), which focuses on the industrial internet, is also actively deploying digital solutions in many traditional industries such as energy, industry and travel to help save energy and reduce emissions in traditional industries.

On February 24, 2022, Tencent officially released its Tencent Carbon Neutrality Target and Roadmap Report, in which it proposed that it would achieve comprehensive carbon neutrality in its own operations and supply chain no later than 2030. At the same time, the company will achieve 100% green power no later than 2030.