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At the beginning of this month, BYD announced that it will establish a joint venture with Toyota with a 50:50 equity stake. The joint venture will be jointly established by personnel engaged in related business from both parties, with important business scope covering the design, development, establishment, import and export, and sales of pure electric vehicles and their derivative models, as well as the components of the aforementioned models.

Global car giants are all eyeing BYD, which is also related to the current environment of the new energy vehicle market. At present, there are only a few battery companies with mature technology in the global power lithium-ion battery supply chain. In terms of technology and production, the mainstream is only Panasonic of Japan, LG of South Korea, and CATL and BYD from China. Among them, Panasonic and LG are often criticized by vehicle manufacturers due to production issues.

At present, BYD is implementing an open strategy based on its own electric Car platform (e-platform). By collaborating with all parties to jointly expand the new energy vehicle market, we aim to achieve economies of scale as soon as possible. For traditional car manufacturers, holding hands with BYD not only solves the problem of simple battery supply, but also has various cooperation possibilities in the entire new energy vehicle technology.

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