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Beijing Benz Automotive Co., Ltd is a joint venture between BAIC Motor and Daimler AG. As of 22 November 2018, a full two million Mercedes-Benz vehicles had been built in China by this alliance. At about the same time, the company announced the final development of a new Mercedes-Benz A-Class L sedan for China, in five variants, to "rival the China-made Audi A3 sedan and the BMW Series 1 sedan". Daimler and another partner, BYD Auto (backed by Warren Buffett), were already manufacturing an electric car for the Chinese market, the Denza, with an improved Denza 500 announced in March 2018. Apparently, Daimler-Benz was also having discussions about making battery-powered Smart cars in China with BYD Auto, according to an August 2018 report; the company would not comment on this topic. At the time, the petrol-powered Smart car was being imported into China.