- The new company has been named BYD Toyota EV Technology (BTET)
- They will focus on the research and development of battery electric vehicles with technology and know-how from both China and Japan
As per a report by Autocarpro, BYD Company (BYD) and Toyota Motor Corporation have announced that preparations have proceeded since the agreement between them was signed for the establishment of a joint venture company to conduct research and development of battery electric vehicles (BEVs). This agreement was signed in November last year. The report also said that the registration of the new company has been completed.
Operations to commence next month
The report added that operations are scheduled to commence in May 2020. The new company has been named BYD Toyota EV Technology (BTET). Hirohisa Kishi, from Toyota, will serve as chairman, and Zhao Binggen from BYD will be the chief executive officer. They will work together to meet the needs of customers by researching and developing BEVs that appeal to customers. It will also help to promote widespread adoption and aim to contribute to improving the environment in China.
As per the report CEO Zhao Binggen said that they will focus on the research and development of battery electric vehicles with technology and know-how from both China and Japan. The company is committed to promoting high-quality technology that will make battery electric vehicles more environmentally friendly, safe, comfortable, and intelligent.
