Daimler, BYD partners to build luxury electric cars for China
The failure of China's mass-market electric car producers to meet government sales goals is prompting one major carmaking partnership to change tack and develop a "luxury" e-car for the world's largest auto market where upscale brands trump environmental concerns, Global Times reported.
Daimler AG and its local partner, BYD Co, hope to convince Chinese buyers that their Denza concept car, the first pure all-electric luxury car in China, will put owners in the same league as a BMW, Audi or Mercedes.
The car is the result of a two-year effort by Daimler and BYD to marry Mercedes Benz design and technology with BYD's lower-cost batteries. BYD, which also makes cars, is partly owned by American investor Warren Buffett, the newspaper said.