Japanese automotive giant Toyota is partnering with China’s BYD to develop electric cars.
At the same time as Toyota debuts its electric Lexus in China, BYD and Toyota signed an agreement to establish a joint company to research and development for battery electric vehicles (BEVs).
The new R&D company, which will work on designing and developing BEVs (including platform) and its related parts, is anticipated to be established in China in 2020, with BYD and Toyota to evenly share 50 percent of the total capital needed. [Read more…] about Toyota partners with China’s BYD to develop electric cars
