Toyota, BYD Partner On Electric Car And Battery Development

Toyota announced Friday that it will work with BYD to jointly develop all-electric vehicles and onboard batteries following an announcement in June about a battery deal with the Chinese electric automaker.

Why it matters: Growth in domestic new energy vehicle (NEV) sales are ramping up, and global OEMs are looking to grab share in the world’s largest auto market. June NEV sales rose 80% year on year to 152,000 as the central government continues to promote mass adoption of electric vehicles to fight climate change.

  • The National Development and Reform Commission, China’s top economic planner, said in a statement last month that municipal governments are prohibited from imposing limits on new energy vehicles in the form of license plate quotas.

     

Details: Toyota and BYD will jointly develop battery electric vehicles (BEVs), including sedans and low-floor SUVs, as well as onboard batteries for the BEVs and other vehicles.

  • The vehicles are expected to hit the China market under the Toyota brand name from 2020 to 2025.
  • Toyota was the first company in the world to launch mass production of hybrid electrified vehicles in 1997, while BYD has been the top seller globally of all-electric vehicles since 2015.

Context: The deal is the latest in a series of recent partnerships between global automakers and Chinese OEMs as the Chinese EV industry accelerates.

Toyota, BYD partner on electric car and battery development
Toyota, BYD will jointly develop electric vehicles for China
Toyota, China's BYD team up to develop battery EVs
Toyota is betting $2 billion on electric vehicle development in Indonesia, Southeast Asia's 2nd-largest car-production hub
Toyota and Panasonic consider joint development of electric vehicle batteries
Toyota, China's BYD team up to develop battery EVs