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China to Begin Production on Electric Car

SHANGHAI—An electric car jointly developed by Daimler AG DAI.XE +0.50% and China’s BYD Co. 002594.SZ +3.42% will begin production this year and go on sale in 2014, an executive at the German auto maker said Saturday.

“Our joint venture with BYD is at full steam,” said Hubertus Troska, member of the management board of Daimler responsible for China, referring to the new Denza automobile.

“This is at the top of the [Chinese] government agenda,” he added. “They want to push EV.”

Daimler and BYD first showed off the Denza as a concept car last year at the auto show in Beijing.

BYD is partly backed by U.S. investor Warren Buffett.
source wsj.com

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