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Tuesday, May 26, 2009

Volkswagen adds China's BYD as electric car ally

FRANKFURT (Reuters) - Volkswagen (VOWG.DE) plans to explore the options for a partnership with China's BYD Co (1211.HK) in the area of hybrids and electric vehicles powered by lithium-ion batteries, Europe's largest carmaker said on Monday.

Volkswagen is the first major industrial partner for BYD, a battery specialist and the fledgling maker of the F6DM plug-in hybrid that sold a 10 percent stake to Warren Buffett's Berkshire Hathaway (BRKa.N) in September for $230 million.

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