General Motors Corp. (GM, Detroit, MI) and DaimlerChrysler AG announced that they would jointly develop hybrid electric vehicles. The two companies have already been separately developing hybrids and reported that they had been in discussions since last year. They have agreed to jointly develop a compact hybrid system that saves gas on both the highway and in the city. It will also be designed for full-size trucks and for use with diesel and gasoline engines.
The companies report that their first vehicles would not be on the road until 2007. GM has said that by 2007 it will offer a more ambitious hybrid system in its Chevrolet Tahoe and GMC Yukon sport utility vehicles. The two vehicles would be the first to use the co-developed system. DaimlerChrysler said it would follow GM in late 2007 or early 2008 with a hybrid version of its Dodge Durango SUV, and that DaimlerChrysler's Mercedes division will also use the new system in a luxury car. Neither company would report how many vehicles would be produced.
