Daimler has announced a tie-up with Chinese manufacturer Build Your Dreams (BYD) to create electric cars specifically for the Chinese market.
The 50:50 deal will see the cars developed and marketed under a new company, called Shenzhen BYD Daimler New Technology Co. Ltd.
BYD is China’s leading manufacturer in developing advanced battery technology, while Mercedes has developed electric versions of the Smart and A-class.
Daimler chairman Dieter Zetsche said his firm was now “well positioned to make the most of the vast potential of electric mobility in China”.
Wang Chuanfu, BYD’s chairman, said the two firms would aim to bring their first electric car to market as soon as possible.
BYD will begin selling its own cars in the UK from 2012 and will launch in Europe next year.
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