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Daimler, BYD to jointly launch electric vehicle model
By Jin Jing |
March 30, 2012, Friday
|
Online Edition
Online Edition
DAIMLER AG and China's BYD Company said today they will unveil their first jointly developed electric vehicle at the Beijing auto show on April 23 as China's first joint venture only making the new-energy autos rides on China's growing demand for green vehicles.
Both companies made a joint announcement after unveiling the Denza brand for the EV, meaning "rising power and momentum" in Chinese, and the brand logo in Shenzhen today.
The ambition to build China's first joint venture specialized in making electric vehicles consolidated in 2010 as the two signed agreement to set up the 600 million yuan (US$95 million) joint venture.
"We're very pleased with progress on the development of the new all-electric car, and the DENZA brand really brings it to life," Wang Chuanfu, Chairman and President of BYD, said today at the launching ceremony. "DENZA is on the right track to be a leader in the premium EV market in China."
The equally-owned joint venture Shenzhen BYD Daimler New Technology aims to incorporate BYD's experience in battery technology and e-drive system and Daimler's know-how in EV architecture and safety. The first electric vehicle model is planned for commercial launch in 2013.
Car makers are competing to roll out green vehicles in China as the world's largest auto market declared the new energy vehicles as its top priority for the 12th "Five-Year plan" ending 2015. The central government aims to have 500,000 new energy vehicles on the roads by 2015 although consumers are still unimpressed by the high cost and weak charging infrastructure.
Besides Daimler, Volkswagen and General Motors also hold similar plans to produce and sold new-energy vehicles in China to cash in the promising business.
Shenzhen-based BYD, the previous battery producer, developed the world's first mass-produced electric car E6 in 2009 and sold it to general public last year.
With the intention to address environmental protection and energy security, central government is offering subsidies to encourage the purchase of fuel-efficient new energy vehicles while working out financial and technological measures in the research and development of new-energy vehicles to turn the country to be a world's leading producer of green cars.
Both companies made a joint announcement after unveiling the Denza brand for the EV, meaning "rising power and momentum" in Chinese, and the brand logo in Shenzhen today.
The ambition to build China's first joint venture specialized in making electric vehicles consolidated in 2010 as the two signed agreement to set up the 600 million yuan (US$95 million) joint venture.
"We're very pleased with progress on the development of the new all-electric car, and the DENZA brand really brings it to life," Wang Chuanfu, Chairman and President of BYD, said today at the launching ceremony. "DENZA is on the right track to be a leader in the premium EV market in China."
The equally-owned joint venture Shenzhen BYD Daimler New Technology aims to incorporate BYD's experience in battery technology and e-drive system and Daimler's know-how in EV architecture and safety. The first electric vehicle model is planned for commercial launch in 2013.
Car makers are competing to roll out green vehicles in China as the world's largest auto market declared the new energy vehicles as its top priority for the 12th "Five-Year plan" ending 2015. The central government aims to have 500,000 new energy vehicles on the roads by 2015 although consumers are still unimpressed by the high cost and weak charging infrastructure.
Besides Daimler, Volkswagen and General Motors also hold similar plans to produce and sold new-energy vehicles in China to cash in the promising business.
Shenzhen-based BYD, the previous battery producer, developed the world's first mass-produced electric car E6 in 2009 and sold it to general public last year.
With the intention to address environmental protection and energy security, central government is offering subsidies to encourage the purchase of fuel-efficient new energy vehicles while working out financial and technological measures in the research and development of new-energy vehicles to turn the country to be a world's leading producer of green cars.
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