And chances are that you probably don't know Chinese automaker BYD which (BTW) stands for Build Your Dreams.
The German and Asian company today announced a 50/50 joint venture partnership to build and sell electric cars in Asia.
The companies said they will invest 600 million yuan ($87.9 million USD) to develop electric cars for the Chinese market.
So what does each company bring to the table?
Daimler according to the press release brings "know-how in electric vehicle
architecture and safety" to the venture.
While Diamler's new partner BYD will contribute "it's
excellence in battery technology and e-drive systems".
"Our new joint venture is well positioned to make the most of the vast potential of electric mobility in China. We are fortunate to have excellent joint venture partners in China and the establishment of this research and technology center with BYD adds another dimension to our growing presence in this important market," said Daimler Chairman Dieter Zetsche as he signed the JV papers today.