BYD, Toyota to Set-up Research Venture to Develop EV

Today's Pickup BYD And Toyota Announce Joint BEV Venture

Today's Pickup BYD And Toyota Announce Joint BEV Venture

BYD Company Ltd., a Chinese automaker, has recently entered into a joint venture agreement with Toyota Motor Corporation, another Japanese multinational automotive manufacturer, for the designing and development of new electric vehicles.

The automakers will invest 50-50 in a new company, the primary mission of which will be to design and develop BEVs from the ground up. However, earlier this year Toyota updated its goal to sell 5.5 million electric vehicles per year by 2025, five years earlier than predicted in its 2017 strategy. BYD and Toyota also plan to staff the new JV by transferring engineers and jobs now involved in related R&D from their respective companies.

Toyota, which expects to earn half of its global sales from electric vehicles by 2025, is looking to partner with BYD for battery supplies.

Toyota's partnership with Subaru will play in both the BEV and autonomy spaces. The new company will be based in China, and will also develop frames and parts for electric vehicles. The government is promoting clean energy vehicles to fight pollution and spur new industries.

Baghdadi's wife revealed Daesh group secrets after capture
The Islamic State group confirmed that the 48-year-old Iraqi died in the raid in Syria's northwestern Idlib province. Her fate will be decided by the judiciary, Turkish President Recep Tayyip Erdogan said today, TASS reported.

The softening sales follow Beijing's decision to cut the subsidies that created the electric-vehicle industry in the first place. The company is backed by investor Warren Buffet.

The company also builds electric buses, which are in service in dozens of countries including the U.S., Britain, Japan, India and Chile. BYD is marketing SkyRail as a solution to China's traffic problems in urban areas. "We hope to further advance and expand both BYD and Toyota from the efforts of the new company with BYD", Toyota executive VP Shigeki Terashi commented.

In 2008, BYD became the first company in the world to sell and mass produce plug-in hybrid electrified vehicles (PHEVs). Moreover, they wish to expand the adoption of these electric vehicles to reduce Carbon dioxide emissions with an aim to curb global warming and improve the environment. However, its profits are expected to drop this year as China cuts subsidies on EV.

Recommended News

  • Iraqi PM calls for protests to allow a return to 'normal life'

    Iraqi PM calls for protests to allow a return to 'normal life'

    Umm Qasr receives imports of grain, vegetable oils and sugar shipments that feed a country largely dependent on imported food. At a nearby makeshift clinic, volunteer medic Manar Hamad said she had helped treat dozens of wounded on Saturday alone.
    Heavy Rain Likely In Odisha's Coast As Cyclone Bulbul Intensifies: Weather Office

    Heavy Rain Likely In Odisha's Coast As Cyclone Bulbul Intensifies: Weather Office

    The Bengal government said 1.58 lakh people were evacuated from vulnerable areas. "Be alert, take care and stay safe", she said. NDRF and SDRF teams have been deployed in Jhargram, Kharagpur, Digha, Kakdwip in South 24 Paraganas and in North 24 Parganas.

    ABC's 'Fresh off the Boat' to End in February

    Its ensemble cast includes Randall Park , Constance Wu , Hudson Yang , Forrest Wheeler , Ian Chen , Lucille Soong , and more. The single-camera comedy was the first show to celebrate Chinese New Year and the first network show to travel to Asia .
  • On Berlin Wall Anniversary, Trump Calls Germany

    On Berlin Wall Anniversary, Trump Calls Germany "Treasured" Ally

    It was the moment that signalled the simultaneous end of the Cold War and the beginning of reunification of East and West Germany .
    Gordon Hayward has a broken hand

    Gordon Hayward has a broken hand

    Stevens said the team officials and Hayward will consult with doctors Sunday to determine whether Hayward needs surgery. The Celtics have outscored their opponents 115-101 since that opening loss and raised that dominance against the Spurs.
    Roman Polanski accused of raping a French actress when she was 18

    Roman Polanski accused of raping a French actress when she was 18

    Polanski won the best director Oscar for The Pianist in 2003, and his films have been nominated for 28 Oscars. After dinner, she was called upstairs by Polanski. "Life had not trained me to be suspicious", she said.
  • Salman Khan sings for 'Dabangg 3', song out now

    Salman Khan sings for 'Dabangg 3', song out now

    Another gift to the fans of Salman Khan, released song sung by himself: Salman Khan is constantly giving bang gifts to his fans. Many prime locations across the world are the stop for Salman Khan's Dabangg Reloaded tour with the current one being Dubai.
    Turkish, Russian presidents discuss Syria over phone

    Turkish, Russian presidents discuss Syria over phone

    That backing was noted by Erdogan, who recently thanked Orban for the "support" on the worldwide stage. The relationship between Europe and Turkey is love-hate, Assad said.
    Disney+ Announcement | Available in the UK & More March 31

    Disney+ Announcement | Available in the UK & More March 31

    This news comes less than a week before Disney + launches and amid a solid quarterly earnings report (for Disney ). Studio Ghibli has resisted the move to OTT and still prefers to release in theatres and physical format.
  • TI Goes to Gynecologist With Daughter to 'Check Her Hymen'

    TI Goes to Gynecologist With Daughter to 'Check Her Hymen'

    Surely, it's a sexist double widespread when you consider that males usually are not calculated by the equivalent purity metrics. Deyjah Harris also appears briefly in the video, but she does not want to follow the ladies' behavior and she walks away.
    Neil Lennon suggests Celtic will be active in the January transfer window

    Neil Lennon suggests Celtic will be active in the January transfer window

    No Celtic team had won in Italy before so it is an wonderful achievement and fantastic to qualify out the group already. A game Celtic won 2-1. "But we were not good, we were unable to capitalise on the opportunities we had".
    Flattering to be mistaken for Keanu Reeves’ girlfriend: Helen Mirren

    Flattering to be mistaken for Keanu Reeves’ girlfriend: Helen Mirren

    Although they are both tight-lipped their alleged romance, they seemed to confirm their relationship on the red carpet last week. Grant and Reeves reportedly met in 2009 and have collaborated on two books together, Ode to Happiness and Shadows .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.