Mercedes-Benz plans new electric cars with China’s BYD
Chalk another partnership for German company Daimler, owner of Mercedes-Benz, as the group has just signed a contract with China’s Build Your Dreams (BYD).
The new 50:50 joint venture between the two companies, called Shenzhen BYD Daimler New Technology Co. Ltd., will specialize in manufacturing all new electric vehicles for the already booming Chinese market.
Daimler has long been interested in expanding its electric endeavors, and partnering up with BYD, the leading battery technology developer from China, is a huge step in that direction. Wang Chuanfu, BYD boss, revealed that the first car in this new partnership will arrive as soon as possible. No concrete date was given though.
Daimler has partnered up with the Renault Nissan alliance a few months ago, in terms of small car development and platform sharing. It is also rumored to be preparing a deal with Toyota, that will see the two groups collaborate in terms of fuel cell technologies and future vehicles.