BYD Auto Industry Co.,Ltd (BYD) and Hino Motors, Ltd. (Hino) signed a joint venture agreement today to set up a new company for commercial battery electric vehicles (BEVs) development.
This new venture is scheduled to be established within China in 2021, with BYD and Hino each making a 50% capital investment. It will 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 venture plans to initially launch vehicles under the Hino brand in the first half of the 2020s.
The two companies will accelerate the development of commercial BEVs to provide the best-fit product for customers in a timely manner. To begin with, the two companies will collaborate on a development of BEV products. Also, by utilizing both of their knowledge and experience, the two companies will cooperate in retail and other related business that will promote the adoption of BEV.
With this partnership agreement, Wang Jie, BYD vice president and CEO of commercial vehicle division, stated that “BYD Commercial Vehicle and Hino Motors has been committed to technology innovation and global promotion of commercial vehicle electrification. The cooperation between the Chinese and Japanese companies will benefit the development of commercial vehicle electrification by introducing leading technology and rich experience, which will accelerate the global adoption of pure electric commercial vehicles.”
Hino’s director and senior managing officer Taketo Nakane said, “We are pleased with this collaboration aiming to realize commercial BEVs that are truly beneficial to customers both practically and economically. By bringing together BYD’s achievement in BEV development and Hino’s electrification technology and reliability built over years of experience in developing hybrid vehicles, we will develop the best-fit commercial BEV products for consumer in working towards swift market introduction”.
BYD started in 1995 as a battery R&D and manufacturing company. It masters core EV technologies including battery, IGBT, electric motor and electronic controls, and has become a company that provides comprehensive new energy solutions such as new energy passenger vehicles, commercial vehicles, forklifts, and power battery products.
BYD Commercial Vehicle is a world-leading brand with an extensive product lineup ranging from pure electric coach and bus to pure electric truck. Since the first commercial operation of the BYD K9 pure electric bus in Shenzhen in 2011, BYD’s footprint can be found in more than 300 cities across over 50 countries and regions around the world. BYD has sold over 50,000 units of pure electric bus and coach, ranking first on the global pure electric bus and coach* sales.
*10 meters above
Hino was founded in 1942 and has since grown alongside customers and societal development through its business of providing trucks and buses. In 1991, Hino released the world’s first commercially available hybrid vehicle as a heavy-duty urban transit bus. For nearly thirty years since, it has constantly strived to innovate electrified vehicle technology, putting light-duty electric vehicle buses and medium-duty plug-in hybrid buses in operation. Hino’s heavy-duty truck with the newest 6th Generation Hybrid system offers the convenience of a diesel truck while improving fuel efficiency by about 15%.** Hino contributes to customer businesses with products that balance environmental friendliness and practicality at a superior level.
**Compared to diesel truck, Hino internal research
BYD and Hino will work together to develop and spread the best-fit commercial BEVs for customers to achieve low-carbon societies.
About Hino Motors
The HINO brand represents the Toyota Group in the global market for heavy-duty trucks and buses. They produce Toyota-badged vehicles on commission, including the popular sport-utility vehicle, the Land Cruiser Prado; the FJ Cruiser; Dyna trucks; and Toyoace commercial vehicles. Using the Toyota Production System to achieve continuing gains in productivity and in quality throughout operations. The operations are growing globally in step with the globalization of the Toyota Group. HINO produces axle assemblies for Toyota’s lMV model line, which includes pickup trucks and utility vehicles, as well as producing trucks under the HINO brand. Similarly, HINO manufactures parts in the United States for installation in Toyota vehicles produced in North America.
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