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Toyota Motor Corporation is teaming up with China’s BYD Company for the joint development of electric vehicles (EVs) and batteries.
They have signed an agreement to develop sedans and SUVs as well as the onboard batteries for these vehicles and others. with the aim of launching them in the Chinese market under the Toyota brand in the first half of the 2020s.
Both the companies seek to reduce carbon emissions by promoting the widespread use of battery-powered EVs and making them more attractive to consumers.
The news comes amid a move towards low carbon vehicles. with national goals and emissions regulations expected to shift more drivers away from traditional diesel and petrol cars towards greener ones.
New analysis by Transport &. Environment (T&.E) suggests the number of EV models offered on the European market alone is expected to more than triple within the next three years.
