A Mini Cabrio surrounded by visitors to a luxury vehicle show in Shenzhen, Guangdong province. The major car-buying power in China has changed from people born in the 1960s to post-70s and post-80s. The latter two prefer cars with a more modern appearance.
Daimler AG announced on Thursday a joint venture with BYD, the Chinese automobile and battery manufacturer, to build a research and technology center to develop electric cars in BYD’s home city of Shenzhen. The Shenzhen BYD Daimler New Technology Company, as the company will be called, will seek to strengthen each brand’s position in China’s electric-vehicle market.
In March, the two automakers signed a memorandum of understanding to build electric cars in China. At the time, Henry Li, BYD’s international sales manager, said a proposed jointly developed electric car would be positioned above the e6, the four-door E.V. that BYD displayed at the Detroit auto show in January.
Continue reading Daimler and BYD Move Forward With Electric Car Partnership