Toyota to Produce Electric Car Powered By BYD Batteries in China

Reuters2022-10-24

BEIJING, Oct 24 (Reuters) - Toyota Motor Corp announced on Monday the launch of a small electric sedan, which will be powered by BYD Co batteries and will be produced and sold in China.

The Japanese automaker said the car would be called the Toyota bZ3. It did not say when the vehicle will be available in showrooms.

It is the second model in the new Beyond Zero (bZ) series of battery electric vehicles (BEVs) from Toyota, which has been criticised by activists and green investors for not embracing BEVs quickly enough.

Toyota had planned to unveil the bZ3, which uses BYD's less bulky Blade batteries, at the Beijing auto show in April, but the event was cancelled because of the COVID-19 pandemic, people familiar with the matter have told Reuters.

The bZ3 was developed jointly by Toyota and BYD, Toyota said on Monday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
2