Daimler and BYD's new joint-developed pure electric vehicle platform will make its debut at next April's Auto China exhibition in Beijing, sources reported on Oct 9. The news comes straight from Daimler Group CEO Dieter Zetsche, who added that the company has no similar plans to develop electric vehicle technology with any other Chinese manufacturer. He stressed that no other manufacturer had a mature EV program, which is why BYD was a natural choice for Daimler.

Dr. Zetsche met with BYD Chairman Wang Chuanfu last week to confirm terms of cooperation between the two companies. There was previously much speculation that Daimler's Mercedes-Benz brand would cooperate directly with BYD, who now possesses groundbreaking iron battery technology. Dr. Zetsche denied the reports, while confirming his confidence in BYD. He added that the Chinese government's decision to offer 120,000 yuan ($18,923) subsidy for pure EVs was very attractive to Daimler.

Dr. Zetsche believes that the Chinese market still possesses much undiscovered potential. He said that he hopes the partnership with BYD will be long-lived, as Daimler is not interested in short-term profits, but long-term development in the country.

Daimler is also continuing to develop its partnership with BAIC's Foton, Dr. Zetsche added.