#BuildYourDreams

American taxi fleets will be allowed to buy electric cars from Chinese automaker Build Your Dreams (BYD) despite the brand’s choice not to offer at the consumer level.

It’s not clear if Chinese automaker BYD is more famous because of its billionaire investor Warren Buffet, or because of its continued failed promises to sell cars in North America. Soon, however, you might recognize the brand as your emissions free transportation to and from the office. That’s because BYD is preparing to launch its new eBUS-12, the world’s first fully electric full size bus.

Of all the Chinese automakers, BYD (or Build Your Dreams) has been pegged for several years now as the one to bet on. A battery company turned car manufacturer, BYD was the first from China to display at the North American International Auto Show in Detroit, holding a press conference and making claims that have yet to come to fruition.

Volkswagen and Chinese automaker BYD (Build Your Dreams) have signed a “memorandum of understanding” announcing that the two car manufacturers will seek ways to work together to bring electric vehicles and hybrids to market.

Volkswagen recently announced its TwinDrive diesel-electric hybrid system and we recently reported on a rumor that the German automaker will bring an electric car to the Frankfurt Auto Show in September. BYD, which is now part-owned by Warren Buffett, already has a two plug-in gasoline-electric hybrids (the F3DM and the F6DM) on the road in China and plans to bring a full electric car (the e6, shown above) to market soon.

After an informal meeting in Germany, where BYD representatives had the chance to see VW’s facilities and drive the TwinDrive Golf (as well as the still-under-wraps electric car), the agreement was signed by Chairman of the Board of Management of Volkswagen AG, Dr Martin Winterkorn, and the Chairman of the Board of Management of BYD, Wang Chuanfu.

Official release after the jump:

After General Motors made it clear in its viability report submitted to the U.S. Treasury that the future of Saturn was uncertain at bes t, it appears as though Saturn’s network of dealers has its own plan.