BYD and Toyota to build battery electric vehicles in joint venture
The venture aims to develop vehicles that run solely on batteries, rather than plug-in hybrid or fuel-electric vehicles
07 November 2019 - 17:49
Tokyo/Shanghai — Chinese electric car maker BYD and Japan’s Toyota said on Thursday they planned to set up a joint venture to design and develop battery electric cars as they ramp up efforts to produce zero emissions vehicles.
The two companies said in a statement that they would each invest 50% of the capital needed to establish the company, which will be set up in 2020 and be based in China. The companies did not disclose the value of the venture...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.