Last week Volkswagen told Autoexpress that it will unveil an electric car “that people could actually buy at a reasonable price” this September. Yesterday it may have revealed part of its plan for getting there.
The company signed a memoradum of understanding with Chinese battery company BYD.
Unlike German rival Daimler, who went with a splashy tie up, investing in Tesla, Volkswagen is playing it more pragmatic. BYD is selling plug-in hybrids and specialises in battery technology. It’s received the blessing of St. Warren Buffett, who owns 10% of the company.
Even if BYD doesn’t provide the technology for VW’s initial electric effort, down the road it could be a lucrative partnership, providing entry into the emerging Chinese car market.
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