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Germany’s Daimler<\/a> AG and BYD<\/a> Co. of China agreed to jointly develop an electric vehicle for the Chinese market, which last year became the world’s biggest market for cars. <\/p>\n The pact builds on Daimler’s deal with Tesla Motors Inc., a U.S. developer of electric cars, as the market for alternative-drive cars picks up with prodding from governments keen to reduce oil dependence and greenhouse-gas emissions. <\/p>\n In BYD, Daimler picks up a partner that has been developing battery technology since 1995. BYD gained a measure of credibility when Warren Buffett’s Berkshire Hathaway<\/a> Inc. bought a stake in the auto maker in 2008. <\/p>\n “Daimler’s know-how in electric vehicle architecture and BYD’s excellence in battery technology and e-drive systems are a perfect match. Thus, we will be able to participate in the potential growth of electric mobility in China, currently the largest auto market of the world,” said Dieter Zetsche<\/a>, Daimler chairman and head of Mercedes-Benz Cars. <\/p>\n Electric vehicles work best in cities, both companies noted, a condition that bodes well for the cars’ use in China. <\/p>\n Daimler recently launched an electric version of the Smart car and will launch an all-electric version of the Mercedes-Benz A-Class this year.<\/p>\n Share Investor Links<\/span><\/a><\/a><\/p>\n Share Investor Blog<\/a> – Stockmarket & Business commentary Download the 2009 Warren Buffett Letter & 2009 Annual Report to Berkshire Hathaway Shareholders<\/span><\/a> Recommended Amazon Reading<\/span><\/p>\n
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