BYD, Mercedes close to EV joint venture deal
Shanghai, April 28 (Gasgoo.com) Recently, Daimler and Mercedes-Benz CEO Dieter Zetsche said in an interview that Daimer and BYD are about to sign a formal co-operation agreement, according to which the two parties will establish a joint venture to produce electric vehicles, whch is the first time for a Chinese enterprise to output technology among JVs.
Reportedly, the Daimler team consists of engineers exclusively. The team is currently deliberating with the BYD engineers over the technical requirements for future co-production of the electric cars.
Under the deal, the two parties will create a new brand for their jointly-developed electric cars in the future.
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