New progress has been made in the cooperation between BYD and Toyota.
On March 25, BYD Toyota Electric Vehicle Technology Co., Ltd. was officially registered and established in Shenzhen. This also means that the joint venture between BYD and Toyota may have entered the substantive construction phase.
From the business information, the company's legal representative is Zhao Binggen, general manager of the BYD Auto Institute, and the chairman is Anhong Shang, president of Toyota Global Powertrain.
It is understood that on November 7, 2019, BYD and Toyota signed a joint venture agreement on the establishment of a pure electric vehicle research and development company, each of which contributed 50%. The new company will carry out design, research and development of pure electric vehicles and the platforms and parts used in the vehicles.
Regarding the establishment of the new company, BYD Senior Vice President Lian Yubo said "I look forward to this cooperation to achieve BYD's 'competitiveness in the pure electric vehicle market' and 'R & D capabilities' and other aspects of Toyota's 'quality' and 'safety' In addition, we will strengthen the alliance and launch a pure electric vehicle that consumers love as soon as possible according to market needs. "
Toyota 's Terashi Shige, vice president, said, “For the common goal of advancing the development of electrification, I am glad to be able to transcend the competitive relationship with BYD and become a“partner. ” I hope that through the related business with the new company established by BYD, both parties will Cooperation has been deepened and developed. "
On the one hand, it is the leading brand of China's new energy vehicles, on the other hand, it is the world's largest automobile manufacturer, and has rich experience in hybrid vehicle manufacturing. The cooperation between the two parties to establish a pure electric vehicle research and development company demonstrates the determination of the two car companies to win-win cooperation and lay out the pure electric vehicle market.
It is believed that in the near future, Toyota-BYD pure electric vehicles will be born, and the new products under the combination of strong and strong are worth looking forward to.
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