Kandi Technolgies Corp (KNDI)

[tchauncy]

Daimler CEO Says-China Has To Go Electric...

In referencing the below Press Release on CNBC this morning. Daimler AG's CEO Dieter Zetsche said; :"There is no question, China has no choice. There is just too many Chinese that now want cars. There is just not enough petrol. The Chinese Government wants this and they will support this..."

BYD already has a mid to high end electric vehicle almost ready for release that will sell for in excess of $40,000. I can't imagine partnering up with Daimler who makes Mercedes Benz will create a vehicle that can price compare with KNDI's CoCo for the emerging middle class. Under any circumstance, with what is outlined in the PR, a salable vehicle will be ready in less than three to four years. This type of recognition of a serious need in China has to be a big plus for KNDI and its head start on a solution.



Daimler, BYD to build electric car for Chinese market
Tue Mar 2, 2:54 am ET

FRANKFURT (AFP) – The German automaker Daimler said late Monday it had agreed to develop an electric car for the Chinese market with the Chinese group Build Your Dreams (BYD).

"Under the agreement, Daimler and BYD intend to develop a new electric vehicle specific to the requirements of the Chinese market," a joint statement said.

A new brand would be created for the vehicle and the construction of a Chinese technology centre was included in the deal, it added.

Daimler is to bring its expertise in electric cars to the venture, while BYD would add its battery technology to the company.

"Electric vehicles are especially well-suited for urban driving. With its many metropolitan areas, China has the potential to be among the world?s largest markets for zero-emission vehicles," the statement quoted Daimler chairman Dieter Zetsche and BYD chairman Wang Chuanfu as saying.

Daimler is relatively new to the field of low-emissions vehicles, but the maker of Mercedes Benz is trying to catch up with the launch this year of electric versons of its Smart city car and small Class A series.

In late 2010, BYD plans to introduce its e6 electric vehicle in North America.

US billionaire Warren Buffett owns 10 percent of BYD.

http://news.yahoo.com/s/afp/20100302/bs_afp/germanychinaautoventurecompanydaimlerbyd/print