Chinese electric vehicle maker BYD and Japanese company Toyota Motor on Thursday announced plans to form a joint venture to develop and deploy electric vehicles to expand production of zero-emission vehicles.
A XNUMX/XNUMX joint venture headquartered in China will be set up next year. The authorized capital of the joint venture is not disclosed.
The new company will develop only electric vehicles, not plug-in hybrids or petrol-electric hybrids, which also have an internal combustion engine.
In July this year, BYD and Toyota announced an alliance to produce electric sedans and SUVs for sale in China under the Toyota brand until 2025.
Source: 3dnews.ru