Toyota is working with Chinese tech manufacturer BYD to bring affordable electric vehicles to the world’s biggest automobile market.
In a joint statement with BYD — which stands for Build Your Dreams — Toyota said it would develop battery electric vehicles with the company, per Reuters.
It comes as Toyota tries to turn around a reputation for dragging its heels on electric vehicles in favour of its renowned hybrid electric vehicles.
In a joint statement, Toyota and BYD, which also makes buses, electric bikes, trucks, forklifts and rechargeable batteries, said they would develop sedans and sport utility vehicles, which would then be sold under the Toyota brand in China before 2025.
Toyota earlier claimed that by 2025 half of its sales will be electric vehicles, five years ahead of initial predictions, and that it will be selling 4.5 million hybrid and plug-in hybrid models by 2025, with a further one million from all-electric and fuel-cell vehicles.
Toyota also announced last week it was teaming up with China’s Contemporary Amerex Technology to supply and develop batteries for lower-emission vehicles.
That was due to the realisation that it would need more batteries than it expected, prompting it to look beyond Panasonic Corp, its long-time partner in battery development, to secure supply.
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