BYD-Daimler to build R&D center in Shenzhen

Chinese battery and vehicle maker BYD said Thursday it will set up an R&D center in Shenzhen to jointly develop a new brand electric vehicle with German auto giant Daimler.

The two carmakers have signed a preliminary agreement to jointly build an electric car that will be sold in the Chinese market under a new brand.

BYD CEO Wang Chuanfu said there was no detailed timetable for the cooperation, but with substantive support from the Shenzhen government, the R&D center may possibly be built in the southern Chinese city.

There are not enough charging stations for electric vehicles in China, and BYD hopes to work with the local government there to improve the after-sale services for electric car drivers.

Agencies and Shi Jierui contributed to this story

Explore the World, Understand China!
Please log on www.gloaltimes.cn