Toyota & China's BYD Team on EV's
Despite Pandemic, New EV Business Opening in May Source: Toyota Mirai Despite the coronavirus pandemic and the virtual shutdown of the automotive industry, Toyota just formalized a partnership with China's BYD. BYD is backed by US investor Warren Buffet and is one of China's leading electric automaker. They're combining forces to develop quality performance, electric vehicles and the batteries to power them. New Company with May Start Date They're forming a new company, BYD Toyota EV Technology Co. They say they hope to start operations in May. Hirohisa Kishi of Toyota will be Chairman. Zhao Binggen of BYD will be CEO. The vehicles will be designed for Chinese consumers. Toyota Going Electric For the past decade, Japan based Toyota has focused on hybrid vehicles. It now intends to extend that focus to include all electric vehicles. Toyota is targeting one-half million EV sales sta...