Leading motor manufacturers in hybrid joint venture
Fri 09 September 2005
View all news
General Motors, BMW and Daimler Chrysler have announced a joint venture to develop and manufacture hybrid engines and transmissions.
Hybrid vehicles are capable of delivering significant carbon savings (fuel efficiency improvements) and exhaust emissions benefits compared with conventionally powered vehicles of similar size and performance.
The Financial Times reports that BMW has signed a memorandum of understanding with GM and DaimlerChrysler with the intention of entering a definitive agreement before the end of the year. GM and Daimler said they had committed themselves to a partnership under a separate agreement signed several days ago.
The three companies intend to use the hybrid powertrain unit's basic design in a wide variety of vehicles, depending on their particular marketing objectives.
Related Links
Financial Times story link
< Back to news list