AutoBeta(AutoBeta.net)07/19 Report--

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According to domestic media reports, BYD will announce a cooperation with Toyota on the joint development of electric vehicles and batteries, and jointly develop technologies such as pure electric vehicles and power batteries. It is understood that the electric vehicles jointly developed by the two sides, including cars and low-chassis SUV, plan to launch in the Chinese market under the Toyota brand name by 2025. At the same time, the two sides will jointly develop the power batteries needed for the above models.

BYD started the battery industry in 1995, mastering the core technologies of electric vehicles, such as battery, IGBT, motor, electric control, etc., and has become an enterprise that can provide integrated solutions for new energy, including electric vehicles and power batteries. BYD launched the world's first mass-produced plug-in hybrid (PHEV) in 2008 and ranked first in global sales of new energy vehicles (PHEV and EV) for four consecutive years since 2015.

Toyota launched the world's first mass-produced hybrid model in 1997. As a pioneer in the development of electric vehicles, Toyota has rich technology and experience in R & D, manufacturing and sales.

The two sides believe that in order to slow down global warming and reduce carbon dioxide emissions, with the goal of further popularizing pure electric vehicles, it is necessary to transcend the shackles of competition and seek common development, so they have reached cooperation in the joint development of pure electric vehicles.

In the future, BYD and Toyota will combine their technical accumulation and development strength in the field of electric vehicles and batteries to develop more attractive pure electric vehicle products and promote the further popularization of pure electric vehicles.

BYD achieved revenue of 130.054 billion yuan in 2018, an increase of 22.79% over the same period last year, and revenue of 585 million yuan, down 80.39% from the same period last year. In the first quarter of 2019, revenue was 30.304 billion yuan, an increase of 22.50% over the same period last year, and net profit was 411 million yuan, an increase of 225.40% over the same period last year.

BYD and Toyota are both car companies with attainments in the field of new energy vehicles, and this joint effort will not only help reduce development costs for both sides, but also integrate their advantages in different technological fields and further enhance their competitiveness. in order to achieve a win-win situation.

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