Global automaker Toyota is partnering with China’s largest electric vehicle (EV) manufacturer, BYD, in a joint vehicle and battery-storage development agreement.
The two marques both seek to promote the widespread adoption of battery-powered EV’s, and will develop new sedans, SUV’s, and crucially, the battery systems for these, to launch in the Chinese market under the Toyota brand in the run-up to 2025.
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China is already the largest EV market in the world, with domestic brands like BYD dominating new EV sales, and according to Bloomberg, this trend is set to dominate the EV sector for decades to come, with over 2 mmillion EV’s expected to be sold over 2019.
The Chinese government has also set national goals for emissions regulations, in an effort to shift drivers towards sustainable mobility.