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Mercedes-Benz and BYD to enter Chinese EV market

Kharl Prado March 12, 2010

mercedes benz sls amg with electric drive 540x359 Mercedes Benz and BYD to enter Chinese EV market
Mercedes-Benz parent company Daimler has entered into a partnership with a Chinese entity, Build Your Dreams (BYD). Once a battery manufacturer, BYD is going to work with Mercedes in building electric vehicles to enter the Chinese market.

Benz chief Dr. Dieter Zetsche explains that “Daimler’s know-how in electric vehicle architecture and BYD’s excellence in battery technology and e-drive systems are a perfect match”. BYD chairman Wang Chuanfu feels “excited about this opportunity to work together with Daimler, the inventor of the automobile.”

A technology center in mainland China is in the works for their upcoming brand, but no completion date has yet been released. The announcement already saw a five percent increase in BYD stocks.

 Mercedes Benz and BYD to enter Chinese EV market

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