GM and Daimler Chrysler to work together on hybrid vehicles

Wed 15 December 2004 View all news

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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