VW and China’s BYD sign memorandum to explore partnership in hybrids and electric-vehicles

During a visit to Wolfsburg by Chinese automakers BYD (Build Your Dreams) – led by the company’s Chairman of the Board Wang Chuanfu – a memorandum of understanding was signed by Mr. Wang and Volkswagen CEO Dr. Martin Winterkorn.

“The objective of signing a memorandum of understanding between Volkswagen and BYD is to explore the options for partnership in the area of hybrids and electric vehicles powered by lithium batteries,” Volkswagen said in a statement.

Dr. Ulrich Hackenberg hosted the delegation of top managers with information at Volkswagen’s Elektrotraktion Technology Centre in Isenbüttel. 

“Volkswagen will consistently expand its successful “˜BlueMotionTechnologies’. Hybrids and electric vehicles will play an increasingly important role, of course. Particularly for the Chinese market, potential partners such as BYD could support us in quickly expanding our activities,” said Dr Hackenberg.

– By: Omar Rana