The Chinese company BYD $1211 (-0,28%) and the US oil company Exxon Mobil $XOM (+1,51%) will deepen their partnership in the field of hybrid technology, as the Chinese electric vehicle manufacturer announced in a press release.
Under a long-term strategic memorandum of understanding signed on Monday, the two companies will jointly explore the development of customized products, cooperation in new material applications and other fields, according to the statement.
Last year, BYD launched a motor oil specially developed for plug-in electric vehicles together with Exxon Mobil.
