Toyota to develop electric cars for the Chinese market

BYD

Japanese automotive giant Toyota Motor Corporation and Chinese electric component manufacturer BYD Company Ltd. have signed an agreement to jointly develop battery electric vehicles (BEV).

The deal will enable both firms to build cars with more affordable electric batteries for the world’s leading market.

The two parties will jointly develop sedans and low-floor SUVs. They will also develop the onboard batteries for these vehicles and others. In detail, the purpose is to launch them in the Chinese market under the Toyota brand in the first half of the 2020s.

Emission’s reduction

To curb global warming, both BYD and Toyota seek to reduce CO2 emissions by promoting the widespread use of BEVs. To accomplish these goals, both companies believe there is a need to put aside their rivalry and collaborate; therefore, the two companies have agreed to jointly develop BEVs.

Going forward, BYD and Toyota will make use of the electrified vehicles, and battery development technologies they have acquired through their market introductions and will work together to further develop BEVs that are attractive to customers and in further promoting their widespread adoption.

BYD pioneer in hybrid vehicles

BYD was founded in 1995 as a
battery business and has grown into a
total energy solution company
. The company manufactures not only
electrified vehicles but other products such as large-size energy storage
cells.

In 2008, BYD became the first company in the world to sell mass production of plug-in hybrid electrified vehicles (PHEVs). Since 2015 onwards, BYD's sales of BEVs and PHEVs have been ranked first in the world for four consecutive years. The company name BYD stands for "Build Your Dreams" and core parts for electrified vehicles such as batteries, motors and power electronics are among the products that BYD develops in-house.

Toyota making progress with clean energies

In 1997, Toyota became the first company in the world to launch mass production hybrid electrified vehicles (HEVs). Since then, it has become a pioneer of electrified vehicle development, and accumulated a rich array of technologies and experience in the development, production, and sales of electrified vehicles.

Toyota highlighted that reducing its vehicles’ CO2 emissions has always been a priority. A future with low carbon emissions includes hybrid technology, improving fuel efficiency, and prioritizing electrification.

But putting so many EVs in the market is creating a new waste product in the form of used batteries. Toyota’s solution has been finding a way to reuse deteriorated batteries at the end of their service life.

The firm also advances in the Chinese market

Signing this agreement constitutes one more step for Toyota to consolidate in China’s EV market.

Recently, the Japanese firm and Chinese company Contemporary Amperex Technology Co., Limited (CATL) announced that they have entered into a comprehensive partnership agreement for the stable supply and further development of New Energy Vehicle (NEV) batteries.

The two companies have also commenced discussions that cover a wide range of fields, including: supply of batteries; new technology development, product quality improvements, and the reuse and recycling of batteries.

CATL is the world's leading supplier of drive battery systems for vehicles with competitive advantages across the globe. In recent years, as vehicle electrification has accelerated worldwide, the company has won recognition from many automobile manufacturers both in China and overseas.

To further promote the widespread use of electrified vehicles, CATL and Toyota agree that a stable supply of batteries is critical and that battery technology must be further developed and advanced. To this end, the two companies intend to establish joint systems and engage in specific initiatives together.

For more information, check Energía16

See also: Renault expands presence in China’s auto market

Load More Related Articles
Load More By Energía 16
Load More In 74

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

The Philippines launches its first floating solar power project

The Philippines recently switched on its first floating solar power project. Norwegian flo…