Daimler, BAIC to develop electric vehicles
By Andrew, 14 Nov, 2011. 0 Comments
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Daimler AG has formalized its intention to develop electric vehicles with Beijing Automotive Industry Holding Co., by signing a letter of intent last week. This was made to further improve the competitiveness of both partners in China, according to Daimler. Further details of this joint development project were not disclosed. BAIC and Daimler created a joint venture in Beijing to develop Mercedes-Benz E- and C-class automobiles.
In October, the Chinese government gave its nod to Daimler's joint venture with Beiqi Foton Motor Co., which is the commercial vehicle unit of BAIC, in order to produce commercial cars.
Daimler also has a joint venture with BYD Co. to develop electric vehicles with BYD's drivetrain and battery pack and Daimler's EV architecture. The resulting vehicle will be promoted as a new brand under the joint ownership of Daimler and BYD. [source: AutoNewsChina]
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