BYD wants Maybach: source

• Source: Global Times
• [17:23 March 29 2010]
• Comments

2004 Maybach 62

Chinese car and battery maker BYD Co plans to purchase Daimler's Maybach brand as soon as its German partner announces it will sell the luxury car, according to Chinese media, citing a source close to BYD.

Daimler previously stated that it was planning to slow down and eventually end Maybach's production.

The two automakers are working together producing an electric car for the Chinese market.

However, BYD wouldn't confirm the development, and only said that it was not a groundless rumor.

Auto analyst Xiang Hansong is positive on the BYD-Maybach deal. "BYD has many advantages to make sure the acquisition will be successful, and operate the brand well," said Xiang.

He believes a successful purchase for the Chinese automaker could be done not only because the two companies already have a cooperative relationship, but also BYD has its core technology and the experience of international operation, as well as a good image overseas.

Agencies and Shi Jierui contributed to this story