BYD and Daimler establish joint venture to produce electric-cars in China

We’re not sure how Carlos Ghosn feels about this but Daimler has just announced that it has signed a joint venture contract with BYD Company Limited to produce electric-vehicles in China.

“BYD and Daimler will invest RMB 600 million to use as registered capital for the Joint venture,” Daimler said in a statement. “The new generation of electric vehicles developed by the joint venture will capitalize on Daimler”s know-how in electric vehicle architecture and safety as well as BYD”s excellence in battery technology and e-drive systems. The vehicle will be marketed under a new brand jointly created and owned by Daimler and BYD.

“Our new joint venture is well positioned to make the most of the vast potential of electric mobility in China.,” said Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG. “We are fortunate to have excellent joint venture partners in China and the establishment of this research and technology center with BYD adds another dimension to our growing presence in this important market.”

Daimler recently launched the Smart ForTow electric-drive and this year will introduce two Mercedes-Benz electric-cars including the B-Class F-CELL with fuel-cell technology and the electric A-Class E-CELL.

Renault/Nissan and Daimler recently announced an alliance where both companies will strategically cooperate on new tech and product-sharing that will benefit all who are involved.

– By: Omar Rana