BYD, Toyota Launch BYD Toyota EV Technology Joint Venture to Conduct Battery Electric Vehicle R&D
April 2, 2020 | JCN NewswireEstimated reading time: 1 minute
BYD Company Ltd. (BYD) and Toyota Motor Corporation (Toyota) announced today that preparations have proceeded since they signed an agreement for the establishment of a joint venture company to conduct research and development of battery electric vehicles (BEVs) on November 7, 2019, and registration of the new company has been completed. Operations are scheduled to commence in May 2020. The name of the new company is BYD TOYOTA EV TECHNOLOGY CO., LTD. (BTET). Hirohisa Kishi from Toyota will serve as chairman, and Zhao Binggen from BYD will be the chief executive officer (CEO).
New Chairman Hirohisa Kishi said with regard to the establishment of the company, "With the engineers from BYD and Toyota working together under the same roof, we aim to develop BEVs that are superior in performance and meet the needs of customers in China by merging the two companies' strengths and also through friendly rivalry."
Newly appointed CEO Zhao Binggen commented, "This joint venture company will focus on the research and development of battery electric vehicles with technology and know-how from both China and Japan. The company is committed to promoting and populating high-quality technologies that make battery electric vehicles more environmentally friendly, safe, comfortable, and intelligent. Our vision is to create a future customer-first mobility style, and a harmonious society for humans and nature."
BYD and Toyota will work together to meet the diverse needs of customers by researching and developing BEVs that appeal to customers and promoting their widespread adoption and also hope to contribute to improving the environment in China.
Suggested Items
Rogers Expands Capabilities and Services With New Application Laboratory
06/12/2024 | Rogers CorporationRogers Corporation announced that the new application laboratory was completed, expanding the company's assembly, testing and inspection capabilities and services at the curamik® production site in Eschenbach.
Catching Up With Bob Duke of ASC’s Global Sourcing Division
06/12/2024 | Dan Beaulieu, D.B. Management GroupSince we last talked to Bob Duke, president of American Standard Circuits’ Global Sourcing Division, I wanted to see how things are going and what a difference a year makes. Not surprising, and knowing how Bob operates, things are (spoiler alert) going great. Check it out for yourself.
Zollner Elektronik AG, Luminovo Set the New Standard for Digital Supply Chain Collaboration in the EMS Industry
06/11/2024 | Zollner Elektronik AGEurope's EMS market leader, Zollner Elektronik AG, chooses Luminovo, the number one quoting, procurement and collaboration software for the electronics supply chain, as one core partner for their digitalization strategy. The time ca- pacity thus gained can in turn be used to focus on the diverse needs of the customers.
Altair Establishes New Office in Zurich, Switzerland
06/11/2024 | AltairAltair, a global leader in computational intelligence, has established a new office in Zurich, Switzerland. The office, Altair’s first in Switzerland, will help Altair better serve local and global customers in the region.
Dymax Partners with Ingenieria en Sistemas de Adhesivos (ISASA) to Expand Reach in Mexico
06/11/2024 | DymaxDymax, a leading manufacturer of rapid and light curing materials and equipment, proudly welcomes its newest distribution partner, Ingenieria en Sistemas de Adhesivos (ISASA), marking another significant stride in its expanding network of sales partnerships.