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China’s biggest carmakers link up to develop electric cars
China’s biggest carmakers link up to develop electric cars
Posted Wednesday, Aug 12, 2009, 11:29 am in Employee News
BYD Auto may be the poster child for electric vehicles in China, and it has provided Warren Buffett’s investment firm, Berkshire Hathaway, with a nice billion-dollar profit (on paper) over the last 10 months, but the China-based car and battery maker isn’t lending its expertise in electric car technology to a new electric vehicle research and development effort among Chinese automakers, Reuters reported.
The country’s largest car companies (by sales) have just formed a group called T10 Electric Vehicles to jointly research and develop powertrains and components for plug-ins, according to reports from Green Car Congress and Gasgoo, the news service said. The collaboration is meant in part to help cut reseach and development costs for the group, which includes Beijing Auto, Brilliance Auto, Changan Auto, Chery Auto, Dongfeng Auto, FAW Group, Guangzhou Auto, Jianghuai Auto, SAIC Motor and Sinotruk Group. If the partnership proves successful, it could mean heightened competition for BYD, the story said. (Reuters)
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Rick
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