Sun, 09 May 2021

BYD, Hino to produce electric vehicles in China

21 Oct 2020, 20:59 GMT+10

SHENZHEN, Oct. 21 (Xinhua) -- China's BYD Auto Industry Co., Ltd. on Wednesday signed an agreement with Japanese carmaker Hino Motors, Ltd. on the establishment of a joint venture for commercial battery electric vehicles (BEVs) development.

According to the agreement, the new company is scheduled to be established in China in 2021, with BYD and Hino each making a 50 percent capital investment.

It will combine the strengths of both companies to develop BEVs and electric units for customers, primarily in the Asian market, according to a source with BYD.

The joint venture plans to launch vehicles under the Hino brand by 2025, said the source.

More Japan News

Access More

Sign up for The Japan News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!