The German auto giant Daimler AG and China's BYD Co. Ltd. will introduce a new brand for their jointly developed electric vehicles in March, accelerating their efforts to ride on China's green vehicles trend.

The two companies also plan to unveil the first electric vehicle model at the upcoming 2012 Beijing International Automotive Exhibition in April.

Both companies agreed to invest 600 million yuan ($95 million) to build a joint venture on electric vehicles in China in 2010. The Shenzhen BYD Daimler New Technology, which incorporates BYD's experience in battery technology and e-drive system and Daimler's know-how in design and safety, aims to commercialize its first model by 2013.