Faraday Future Launches Limited Edition FF 91 2.0 For $309K

More

Kia EV9n to feature 800V ultra-fast charging and up to 541km of range

More

BMW i5 arrives with up to 601 hp and 582 km range

More

Skoda will offer six all-electric models by 2026

More

Truemag

  • Electric Car News
  • Electric Car Reviews
  • Plug-in Hybrids
  • Technology
  • Home
  • About Us
  • Privacy Policy
  • Advertise
  • Charging Map

BYD, Toyota to Establish Joint Company for BEV Research and Development

BYD Company Ltd. (BYD) and Toyota Motor Corporation (Toyota) announced today that they have signed an agreement to establish a joint company to research and development for battery electric vehicles (BEVs).

The new R&D company, which will work on designing and developing BEVs (including platform) and its related parts, is anticipated to be established in China in 2020, with BYD and Toyota to evenly share 50% of the total capital needed.

Additionally, BYD and Toyota plan to staff the new company by transferring engineers and the jobs currently involved in related R&D from their respective companies.

On the establishment of the new company, BYD senior vice president Lian Yu-bo said “We aim to combine BYD’s strengths in development and competitiveness in the battery electric vehicle market with Toyota’s quality and safety technology to provide the best BEV products for the market demand and consumer affection as early as we can.”

Toyota executive vice president Shigeki Terashi commented “With the same goal to further promote the widespread use of electrified vehicles, we appreciate that BYD and Toyota can become “teammates”, able to put aside our rivalry and collaborate. We hope to further advance and expand both BYD and Toyota from the efforts of the new company with BYD.”

BYD was founded in 1995 as a battery business and has grown into a total energy solution company, manufacturing not only electrified vehicles but other products such as large-size energy storage cells. The company name BYD stands for “Build Your Dreams” and core parts for electrified vehicles such as batteries, motors and power electronics are among the products that BYD develops in-house. In 2008, BYD became the first company in the world to sell mass production of plug-in hybrid electrified vehicles (PHEVs). Since 2015 onwards, BYD’s sales of BEVs and PHEVs have been ranked first in the world for four consecutive years.

Since Toyota launched the Prius, the world’s first mass-produced hybrid electric vehicle (HEV), in 1997, the company has become a pioneer of electrified vehicle development with a focus on HEVs. Toyota has sold more than 14 million electrified vehicles worldwide and has accumulated extensive knowledge concerning the development, production, and sale of both HEVs and their related core components. Also, based on the thinking that electrified vehicles contribute to the society only when its popularized, Toyota is initiating electrification globally. In China, Toyota is also working on spreading electrification and also developing vehicles which meets Chinese customer’s needs in collaboration between Toyota Motor Engineering & Manufacturing (China) Co., Ltd. (TMEC) and the R&D centers established at Chinese joint-venture companies with China FAW Group Corporation (FAW) and Guangzhou Automobile Group Co., Ltd. (GAC).

With the newly established joint R&D company, Toyota and BYD aim to work together to further develop BEVs that are attractive to Chinese customers, and by further promoting their widespread adoption, aim to contribute toward environmental improvement.

Nov 7, 2019Blagojce Krivevski
The new Citroen C5 Aircross SUV HybridPEUGEOT e-EXPERT on sale in the second half of 2020
You Might Also Like
 
StreetScooter to enter Chinese market in deal with Chery
 
Toyota Adds Discounts for 2013 RAV4 EV
Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

November 7, 2019 Electric Car NewsBYD, china, toyota
Follow Us
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • rss
Recent News
Volta Trucks chooses Petit Forestier for refrigerated customer rental solutions
June 2, 2023
XPENG Announces Vehicle Delivery Results for May 2023
June 2, 2023
New Polestar 2 OTA Software Update Adds YouTube App Integration
June 2, 2023
All-Electric Fisker Ocean Extreme Achieves EPA Range of 360 Miles
June 1, 2023
Toyota to assemble three-row all-electric SUV in Kentucky from 2025
June 1, 2023
About
ElectricCarsReport.com ElectricCarsReport.com is a website dedicated to pure electric vehicles and the full range of consumer information and tools about electric cars, green technology energy, and the environment.
Latest News
Volta Trucks chooses Petit Forestier for refrigerated customer rental solutions
June 2, 2023
XPENG Announces Vehicle Delivery Results for May 2023
June 2, 2023
New Polestar 2 OTA Software Update Adds YouTube App Integration
June 2, 2023
Get in touch

Email: [email protected]

Get new stories by email:
Archives
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • rss
DMCA.com
© ElectricCarsReport.com | All Rights Reserved.