General Motors and DaimlerChrysler are teaming up to develop hybrid technology, which combines combustion engines and electric motors, for use in their vehicles, DaimlerChrysler reportedly said on Monday.
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According to the Associated Press (AP). GM and its German-US rival have signed a memorandum of understanding. A detailed agreement is expected early next year, the statement reportedly said.
“Our planned cooperation will draw on the technical expertise of two of the largest auto companies in the world,” DaimlerChrysler board member Thomas Weber said in a news release cited by AP. “The result is expected to be a series of strong hybrid propulsion systems that will serve as a solution for our alternative powertrain needs.”
