Chinese automaker BYD (Build Your Dreams) and Mercedes-Benz’s ancestor aggregation Daimler AG accept set up a new collective adventure alleged “Shenzhen BYD Daimler New Technology Co. Ltd,” to advance electric cartage for China.
The two companies said that they are planning to advance a absolute of 600 actor yuan (US$87.9 million) in the 50-50 affiliation in China.
According to a account fabricated by Daimler, the German automaker will accompany its “know-how in electric agent architectonics and safety” to the venture, while BYD will accord “it’s arete in array technology and e-drive systems”.
The new electric vehicle(s) will be marketed beneath a new cast accordingly created and endemic by Daimler and BYD.
BYD Chairman Wang Chuanfu and Daimler Chairman Dieter Zetsche active the collective adventure arrangement today in Beijing, however, like aggregate abroad in China, the business authorization for the new collective adventure is still accountable to accordant government approval.
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