Daimler and BYD Announce Chinese Electric Car Joint Venture
A joint venture named the Shenzhen BYD Daimler New Technology Co. has been developed with the goal of launching a new line of electric cars aimed specifically at the Chinese market. The company will be jointly owned by Daimler, makers of the Smart Car, and BYD, a Chinese battery manufacturer, both of whom already mass produce electric cars. Although BYD is primarily considered a battery provider, it has developed the e6 line of electric cars that is used by the Chinese government fleets. Rumor is that the e6 will be introduced to the US public by the end of the year.
According to Dr Zetsche of Daimler, this joint venture will "...add another dimension to our growing presence in this important market.” The president of BYD, Mr Wang Chuanfu, believes the merger will make excellent progress "... identifying opportunities to utilize the strengths of both companies to create a new brand of electric cars for China." Daimler will contribute to the automobile architecture and BYD will provide the expertise on the electric drive trains and battery systems.