BYD and Hino joint venture agreement for battery electric vehicles
BYD and Hino Motors have signed a joint venture agreement to establish a new company to develop commercial battery electric vehicles.
The new company will be established in China in 2021, with BYD and Hino each making a 50 per cent investment.
The partnership aims to combine the strengths of both companies to develop BEVs and electric units and will aim to quickly implement the ideal products for customer needs, primarily in the Asian market.
The joint venture plans to initially launch vehicles under the Hino brand in the first half of the 2020s.