BYD and Toyota link to jointly develop battery electric vehicles for China
By Jim Gibbins - 1st August 2019
Japan / China - Toyota Motor Corporation of Toyota, Japan and BYD Company of Shenzhen, have signed an agreement for the joint development of battery electric vehicles (BEVs). The agreement sets out a way forward for jointly developing cars and low-floor sport utility vehicles (SUVs) as well as the onboard batteries for these vehicles and other vehicles. The companies aim to launch the new vehicles in the Chinese market under the Toyota brand name in the first half of the 2020s.
Both BYD and Toyota seek to reduce CO2 emissions by promoting the widespread use of BEVs. They plan to make use of the electrified vehicles and battery development technologies they have acquired through their product introductions to date and will work together to further develop BEVs which are attractive to customers and in further promoting their widespread adoption.
