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...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now