Daimler adds electric-car venture: in China, auto maker forges alliance with BYD and expects Mercedes sales to jump

Daimler AG and China's BYD Co. will each invest about $87.9 million in Shenzhen BYD Daimler New Technology Co., a joint venture to make all-electric cars for the Chinese market. Daimler also said it will spend $244 million to build a factory in Beijing to produce automotive engines. Daimler expects sales of Mercedes-Benz to reach 100,000 units in China this year, up from 67,000 units in 2009.