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Toyota & BYD partner up to launch a new EV company

A BEV (Battery Electric Vehicle) is a type of vehicle having no source of propulsion like IC engine or hydrogen fuel cell but uses chemical energy stored in battery which can be recharged as required. All the power necessary in BEV is obtained from rechargeable battery packs. However, nowadays this technology is not limited to cars, motorcycles, scooters but also includes skateboards, railcars, watercraft, forklifts, buses, trucks and even e-rickshaws.

Toyota Motor Corporation (Toyota) and BYD Company Ltd. (BYD) togetherly are planning to launch a new electric car company. They have been in this program since few years and now set to establish a joint company to research and development for battery electric vehicles (BEVs).

With the same intention, in 2017, Toyota announced the expansion of its electric car plans with 10 new BEVs. However, none of the cars was launched in the market. Toyota has been making many such deals with other companies for BEVs.

In 2019, the Company offered a proposal of a deal to CATL, a Chinese battery manufacturer company, for electric car battery partnership. After this deal, it also announced a partnership BYD for the production of BEVs. According to this deal, the company will be operational from May 2020.

Here are the details of the manufacturing company :

  • Name :

BYD TOYOTA EV TECHNOLOGY CO., LTD. (BTET)

  • Location :

Head office, Pingshan District, Shenzhen City, Guangdong Province.

  • Officers :
Chairman :
Hirohisa Kishi (Senior Executive Vice President, Toyota Motor Engineering & Manufacturing (China) Co., Ltd.)
CEO :
Zhao Binggen (BYD Company Ltd.)
Directors :
6 (3 from Toyota and 3 from BYD)
Auditors :
2 (1 from Toyota and 1 from BYD)
  • Business activities :
Design, development, etc. of battery electric vehicles and their platforms and related parts
  • Equity participation :
Toyota Motor Corporation (50%), BYD (50%)
  • Employees :
Approx. 300

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.

By New Chairman Hirohisa Kishi.

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.

Zhao Binggen, CEO, commented.

The aim of this company is to contribute towards the pollution control & improve the environmental conditions in China. The objective also includes the development and future of BEVs in the World which will depend on their customers.

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