Author: Tronserve admin
Wednesday 28th July 2021 03:19 PM
Toyota Teams With BYD On Electric Cars For China
Toyota Motor said Friday it has arranged to develop electric vehicles with BYD, the Chinese leader in that field, endeavoring to roll out electric sedans and SUVs under the Toyota brand in China during the first half of the 2020s.
The tie-up, which includes development of batteries for electrified vehicles, will even lead to combined production as China loosens restrictions on local manufacturing of environmentally friendly autos by foreign companies. For the time being, the electric vehicles perhaps will be developed at Chinese plants that Toyota already operates with two local partners.
Japan's prominent automaker has been building joint ventures to make up for its sluggish entry into electric vehicles, as Volkswagen and other foreign rivals increasingly focus on EVs.
BYD, which initiated as a battery manufacturer, sold around 250,000 electrified autos in 2018. In conjunction with batteries, the automaker develops motors in-house. It hopes to combine those strengths with Toyota's vehicle design expertise and production technologies.
Toyota's partnership with BYD was prompted by China's move to strengthen environmental regulations in the world's largest auto market. Though hybrids may receive more favorable treatment than at first planned under the newest rules, automakers still will be required to manufacture a certain number of electrics.
By bolstering its EV business, Toyota also expects to make strides in the Chinese market, where its presence is vulnerable as opposed to American and European rivals. Toyota plans to bring a mass-produced electric vehicle to market in 2020, enlarging the lineup to 10 or more models in the first half of the 2020s.
The automaker's other partnerships in this field include establishing a business in 2017 to develop technologies with companies like Mazda Motor and components maker Denso. Toyota also expects to develop platforms with Subaru and release models under both of their brands in the first half of the 2020s.
Toyota and Suzuki Motor have an EV partnership in India. And Toyota has united forces with China's CATL as well as compatriots Toshiba and GS Yuasa in automotive batteries. Toyota said last month that it aims to promote sales of electrified vehicles to 5.5 million units in 2025, moving up the target date by five years.