BYD Company Ltd. and Toyota Motor Corporation havesignedan agreement for the joint development of battery electric vehicles (BEVs). The two parties will jointly develop sedans and low-floor SUVs as well as the onboard batteries for these vehicles and others with the aim to launch them in the Chinese market under the Toyota brand in the first half of the 2020s.
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. 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 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.
This JV could be big. Think 48000V
(20min delay)