Automakers Daimler and BYD have agreed to develop an electric vehicle for the Chinese market, BusinessWeek reported. As part of the "comprehensive" technology partnership between the companies, Daimler and BYD plan to establish a new, jointly owned auto brand. The agreement comes after Daimler’s announcement last month that it would use clean technologies to try to take market share from competitors such as BMW and Audi. Neither Daimler nor BYD gave any indication as to when the new brand or model would be launched, although Daimler said it would produce an all-electric version of the Mercedes-Benz A-class this year.
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