FRANKFURT (Reuters) - Automotive supplier Bosch is to team up with Chinese-funded electric vehicle startup Byton in the areas of powertrain, brake and driver assistance systems, Byton said in a statement.
Byton, which has financial backing from Chinese carmaker FAW Group and battery producer Contemporary Amperex Technology Co. (CATL), on Tuesday signed a cooperation agreement with Bosch.
"Bosch has years of experience in cooperating with premium carmakers. We are convinced that Bosch, through its enormous automotive competence, will become one of the most important partners of Byton," Byton Chief Executive Carsten Breitfeld said.
Both companies will also work together on brand advertising, product marketing, technology development, quality training, customer services and staff training, Byton said.
In June, Future Mobility Corporation (FMC), the Chinese parent company behind Byton, placed an order for a paint shop capable of handling 150,000 cars per year from German supplier Duerr.
(Reporting by Christoph Steitz. Editing by Jane Merriman)