Toyota, BYD to Co-Develop EVs for China
Toyota Motor Corp. and BYD Co. have agreed to co-develop all-electric cars and SUVs that will be marketed under Toyota’s name in China.
The vehicles will be introduced by 2025, according to the partners. Toyota, a relative latecomer to electrification, now says that half its sales volume worldwide—about 5.5 million vehicles—will be hybrids and all-electric vehicles by that time.
Toyota announced two days ago that it has finalized an EV battery development and supply deal with China’s Contemporary Amperex Technology Co. Ltd. CATL reportedly will begin supplying Toyota with batteries next year for its electrified models in China.
Ride-hailing giant Lyft Inc. is partnering with Hoffman Estates, Ill-based CDK Global Inc. to help improve customer transportation to and from dealership service centers.
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While we are probably not at the edge of the Apocalypse, the joint announcement coming from BMW Group and Daimler AG today is something that most people probably didn’t expect and might have seemed Apocalyptic not all that long ago.