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Officials have learned that BYD and Toyota have reached a cooperation on joint development of electric vehicles, and in the future, began to explore the development of pure electric vehicles and power batteries. The products include all-electric models of sedans and low-chassis SUVs, which are scheduled to be launched in China by 2025. And jointly develop the power batteries required for the above models.

The two sides believe that further popularization of pure electric vehicles will help slow down global warming and reduce carbon emissions, so they decided to go beyond the constraints of competitive relations to seek common development, so they reached cooperation in the joint development of pure electric vehicles.

BYD, as a leader in new energy vehicles, started in battery business in 1995 and mastered the core technologies of electric vehicles such as battery, IGBT, motor and electronic control. Today, it has become a company that can provide new energy solutions including electric vehicles and power batteries.

BYD launched the world's first mass-produced plug-in hybrid electric vehicle (PHEV) in 2008, and has achieved the world's first sales volume of new energy vehicles (PHEV and EV) for four consecutive years since 2015.

In the first half of 2019, BYD's cumulative sales volume was 228,000 vehicles, up 1.59% year-on-year. Among them, the sales volume of new energy vehicles is about 145,700, an increase of 94.5% year-on-year. Up to now, BYD's sales of new energy models have exceeded 600,000.

Moreover, Toyota's hybrid is currently recognized as the best hybrid in the world, mature technology, global sales of more than 12 million vehicles, the world's first. Toyota hybrid technology has been continuously developed and innovated for 20 years, with more than 300 technical patents and more than 45 models.

However, Toyota's layout in the new energy field has always been dominated by plug-in hybrid vehicles and hydrogen fuel cell vehicles, but its pace in the pure electric field is slow. This time, it chooses to cooperate with BYD, or it can quickly master the upstream and downstream supply system related to the pure electric field, and BYD may also be able to develop more business models.

In addition, on July 17, Toyota officials also announced that they would establish a partnership with Ningde Times New Energy Technology Co., Ltd., and the two sides would start extensive discussions in many fields such as battery new technology development and battery recycling. In order to further promote the widespread use of electric vehicles, Ningde Times and Toyota agree that stable battery supply is crucial and battery technology must be further developed and advanced.

BYD and Toyota are both automobile enterprises with achievements in the field of new energy vehicles. This joint venture will not only help reduce the development costs of both parties, but also integrate the advantages of both parties in different technical fields to further enhance their competitiveness, thus achieving a win-win situation.

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