BYD Co., the Chinese automaker backed by billionaire Warren Buffett, and Daimler have set up a venture to develop electric cars in the world’s largest auto market.
Daimler, the world’s second-biggest manufacturer of luxury cars, and BYD will invest $88 million in the 50-50 partnership in China, the carmaker from Stuttgart, Germany, said in an e-mailed statement last week.
Daimler is pushing into electric-vehicle production in China to challenge luxury leader BMW, while the venture gives Shenzhen-based BYD access to Daimler’s technologies. Battery-powered electric vehicles may make up 3 percent of the more than 90 million cars sold globally by 2020, consulting company IHS Global Insight said.
read this news @ http://www.evhub.in/news/32
No comments:
Post a Comment