Buffett-backed BYD announces electric car partnership with Toyota

David Reid | @davyreid73

Published 9:03 AM ET Thu, 7 Nov 2019 Updated 20 Hours AgoCNBC.com

• Toyota Motor Corporation is to set up a joint venture with China's BYD Company.
• The two companies want to design and build all-electric battery cars.
• BYD is 25% owned by Warren Buffett's Berkshire Hathaway,

Visual China Group | Getty Images

A Toyota car assembly manufacturing line at Tianjin FAW Toyota Factory in Tianjin, China.

The world's biggest seller of cars, Toyota Motor Corporation, is to set up a joint venture with China's BYD Company — a company quarter-owned by Warren Buffett's Berkshire Hathaway.

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