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BYD & Toyota Launch JV to Conduct Battery Electric Vehicle R&D

Auto News - Published on Wed, 08 Apr 2020

Image Source: BYD Toyota Electric Vehicle Battery
BYD Company Ltd and Toyota Motor Corporation announced 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 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. Hirohisa Kishi from Toyota will serve as chairman, and Zhao Binggen from BYD will be the chief executive officer.

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.

Overview of the Joint Venture Company
HeadingParticular
NameBYD TOYOTA EV TECHNOLOGY CO LTD (BTET)
LocationHead officePingshan District, Shenzhen City, Guangdong Province
OfficersChairman - Hirohisa Kishi (Senior Executive Vice President, Toyota Motor Engineering & Manufacturing (China) Co Ltd); CEO - Zhao Binggen (BYD Company Ltd); Directors6 (3 from Toyota and 3 from BYD); Auditors2 (1 from Toyota and 1 from BYD)
Business activitiesDesign, development, etc. of battery electric vehicles and their platforms and related parts
Equity participationToyota Motor Corporation (50%), BYD (50%)
EmployeesApprox. 300
 

Source :

Posted By : Yogender Pancholi on Wed, 08 Apr 2020
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