Toyota partners with BYD to develop Battery Electric Vehicles

According to a media report, Toyota and Chinese electric vehicle (EV) maker BYD have formed a 50:50 joint venture company to develop battery electric vehicles (BEVs).

The joint venture company is called BYD Toyota EV Technology and is expected to be operational from May 2020. It will be based in Shenzhen, China.

Under the new company, the two brands aim to develop BEVs that will be designed to meet the needs of customers in China.

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