New brand for Daimler and BYD


DAIMLER AG and China's BYD Co will introduce a new brand for their jointly-developed electric vehicles at the end of this month, accelerating efforts to ride on China's growing vehicle electrification.

The two companies also plan to unveil the first electric vehicle model at the upcoming Beijing auto show in April.

Both agreed to form a 600 million yuan (US$95 million) joint venture on electric vehicles in China in 2010. The Shenzhen BYD Daimler New Technology, which incorporates BYD's experience in battery technology and e-drive system and Daimler's know-how in electric vehicle architecture and safety, aims to launch the first electric vehicle model in 2013.


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