GM and Daimler Chrysler to work together on hybrid vehicles
Wed 15 December 2004
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General Motors and Daimler Chrysler have announced that they are teaming up to research hybrid vehicle technology.
The world's largest and fourth-largest car-makers have signed a 'memorandum of understanding' and are reported to be planning to enter a definitive agreement early this year.
Eric Ridenour, head of product development at Chrysler was reported in the Financial Times as saying: "Today's market size is very small, but we do see that market growing. We see them becoming a niche, but a significant niche."
GM had previously announced its first applications of a full hybrid would be launched in 2007 in the forms of the Chevrolet Tahoe and GMC Yukon.
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