Toyota Motor Corp. and BYD Co. are creating a 50:50 joint venture in China that will develop battery-electric vehicle platforms and related technologies.
In July the carmakers announced plans to cooperate on future EVs they aim to launch in China by 2025. At the time, the companies said the co-developed vehicles would be marketed under Toyota’s name.
Due to launch next year, the joint venture will be staffed by existing BYD and Toyota personnel. BYD will provide its battery expertise, while Toyota will contribute its high-volume manufacturing and safety know-how.
Founded in 1995, BYD claims to be the largest EV producer in the world. In addition to batteries, the company also develops its own electric motors and power electronics.
Toyota previously has focused its electrification efforts on hybrid and fuel cell systems. More recently, the carmaker has been ramping up plans to expand into pure EVs. To this end, the company has formed several partnerships—including with two other Chinese carmakers (FAW and Guangzhou Automobile Group)—and is developing its own next-generation solid state battery technology.
The Tesla Model 3 is certainly one of the most controversial cars to be launched in some time, with production models (a comparative handful, admittedly) presented on a stage with a throng of people treating it like it was an event with Beyoncé, Taylor Swift and Ed Sheeran, all at the same time.
The pickup-truck segment in the U.S. market is somewhat like the vehicles themselves: big.
A young(ish) guy that I’ve known for a number of years, a man who spent the better part of his career writing for auto buff books and who is a car racer on the side, mentioned to me that his wife has a used Lexus ES Hybrid.