Just yesterday we announced that VW signed a memorandum of agreement with Chinese automaker and battery maker BYD, well today there is more news on that front. Ford is considering partnering up with BYD in a similar agreement.
The news is not confirmed by Ford at this point, but rumors suggest that Ford and another unnamed European automaker are both considering entering in a deal with BYD for production of hybrid and electric vehicles.
Why BYD? BYD is the world's second largest battery maker, granted they make mostly cell phone batteries at this point. But nonetheless, they have experience in the field of working with lithium-ion batteries and could apply there expertise in the automotive field.
Amongst the speculation, BYD share prices have shot up on the Hong Kong exchange and overall the value has more than double in the past year. Even billionaire Warren Buffet has interest in the company as he bought 9.9 % of the company for $230 million last fall.
With everyone interested in BYD, they have to be doing something right. A large partnership between BYD, Ford, VW and another automaker would certainly give everyone involved access to the technology needed for future hybrid and electric vehicles.
Source: AutoObserver
