BYD-Daimler key deal

• Source: Global Times
• [01:10 March 03 2010]
• Comments

Chinese automaker BYD and German giant Daimler have signed a preliminary agreement to build an electric car together, company executives said at the Geneva motor show Tuesday.

Under the memorandum of understanding, the world's oldest automaker and one of the youngest aim to market the vehicle under a new, jointly-owned brand, merging their technological knowhow for China's fast-expanding urban market.

Reuters – AFP