Daimler AG buys into the belief that demand for electric vehicles will be strong in China, but the auto maker does not agree EVs can accommodate interchangeable batteries. Daimler says in a statement it has a memorandum of understanding with China-based BYD Auto Co. Ltd. to develop “a new electric vehicle specific to the requirements of the Chinese market.” The vehicle will be marketed under a new brand jointly created and owned by the partners, Daimler says, adding development work will ...

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