BYD will join forces with Daimler to create a new brand of electric vehicles


BYD Co., Ltd. announced that it has entered into a memorandum of understanding with Daimler AG to launch joint venture cooperation on electric vehicles. The combination of advanced experience in electric vehicle architecture, battery technology and electric drive system will be achieved.

The main clauses of the memorandum include the intention of the two parties to cooperate first in China on motor-driven passenger vehicles and develop a new look for electric vehicles on the structure of the Daimler vehicle to be selected;

The new electric vehicle will use the new brand jointly developed by BYD and Daimler to launch the market. The new brand will be jointly registered and owned by BYD and Daimler, and will be completely different from the existing Daimler brand (including Mercedes-Benz, Smart, Maybach) and BYD brand;

The two sides will establish a new technology joint venture company to design, research and develop new parts for the Chinese market, including new electric vehicles, electric power transmission systems, automotive power batteries and electric vehicles.

In the future, BYD and Daimler will extensively explore areas of cooperation that are in the interests of both parties and ways of working together in these areas.

BYD Electric Motors has made significant progress in winning large international industry partners. Headquartered in Stuttgart, Germany, Daimler AG is the world's second-largest luxury car manufacturer and the world's largest commercial vehicle manufacturer. The company's four business units, including Mercedes-Benz, Mercedes-Benz light commercial vehicles, Daimler trucks and Daimler financial services.

In May last year, Volkswagen AG stated that it plans to seek cooperation with BYD in the field of hybrid and lithium battery-powered electric vehicles. However, since then, the two sides have not announced more detailed cooperation plans. According to insiders from Volkswagen China, the current cooperation between the two parties has basically remained in the initial state and there has been no progress.

The above agreement was implemented on the basis of an agreement between Daimler and Tesla Motors Inc., an American electric vehicle research and development company, as the government began to advocate reducing oil dependence and greenhouse gas emission reductions, resulting in alternative energy sources. The auto market continues to expand.

Dieter Zetsche, chairman of Daimler AG and head of Mercedes-benz Cars, said that Daimler's advanced experience in electric vehicle architecture and BYD's battery technology and electric drive system The excellence will be a perfect fusion. Wang Chuanfu, chairman of BYD Co., Ltd., said that the strong growth of China's auto market will bring opportunities for small and medium-sized passenger vehicles, especially electric vehicles.

BYD's main electric vehicle product, the F3DM, claims to be the world’s first dual-mode electric vehicle that does not depend on professional charging stations. In August last year, it became the only car product in the “Minimum List of Recommended Models for Energy-Saving and New Energy Vehicle Demonstration Application Projects” of the Ministry of Industry and Information Technology. BYD's traditional internal combustion engine also exceeded 440,000 vehicles last year, a year-on-year increase of 158%. It is 110% higher than the industry average. However, the industry generally believes that BYD is still winning at a low price and its quality needs improvement. Joining hands with Daimler may help improve the quality of the car quickly.
View related topics: Joint venture hot car


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