BYD and Toyota set up joint venture on electric vehicles
2020-03-26 15:07:28 [Print]
On March 25, BYD Toyota Electric Vehicle Technology Co. Ltd. was formally set up; the JV will be located in Pingshan district, Shenzhen city and will have a registration capital of RMB345 million (USD48.65 million).
On November 7, 2019, BYD and Toyota inked an agreement on setting a joint venture focusing on pure electric vehicle research and development; BYD and Toyota will respectively hold a 50% stake in the proposed JV with its staff to come from the two companies.
The joint venture will focus on design and development of pure electric vehicles and derivative products, and on importing, exporting, selling, post-sale service and related consultation on parts and assembled pieces of pure electric vehicles and derivative products.
On November 7, 2019, BYD and Toyota inked an agreement on setting a joint venture focusing on pure electric vehicle research and development; BYD and Toyota will respectively hold a 50% stake in the proposed JV with its staff to come from the two companies.
The joint venture will focus on design and development of pure electric vehicles and derivative products, and on importing, exporting, selling, post-sale service and related consultation on parts and assembled pieces of pure electric vehicles and derivative products.
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