DaimlerChrysler AG and General Motors Corp. said Monday they have agreed in principle to form a partnership for the development of hybrid technology.
Dec. 13—NEW YORK — DaimlerChrysler AG and General Motors Corp. said Monday they have agreed in principle to form a partnership for the development of hybrid technology.
According to sources familiar with the project, the two auto giants are poised to spend several hundred million dollars for the development of the new technology.
A hybrid system combines an electric motor with a standard combustion engine, providing quiet, pollution-free travel at low speeds in urban areas using the electric motor, with more power available on open roads from the standard engine.
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