Toyota and BYD to Create Electric Cars Together
Looks like Toyota will be building battery EVs and batteries together with China's BYD. The Japanese carmaker is trying to boost joint ventures with Chinese players to come up with inexpensive electric cars for the top car markets in the globe. Toyota and BYD recently mentioned that they're looking at building SUVs and sedans, which they plan to sell under the Toyota brand in China before 2025. Just earlier this week, Toyota also reported they're partnering with China's Contemporary Amerex Technology Co Ltd (CATL) to offer and build batteries for lower-emission cars. As one of the late bloomers in accepting battery EVs against rivals like Nissan, Toyota announced last month that they're targeting to get 50% of its worldwide revenue from electric cars, including gasoline hybrids, come 2025, 5 years ahead of original schedule.
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