Toyota Teams Up to Create Affordable EVs
|Source: Toyota Electric Concept Car|
Affordable, Electric Battery Powered Vehicles
The collaborations in the global electric and self-driving automotive market are unrelenting. Toyota just announced a partnership with China's BYD, an electric automaker, to develop electric vehicles and the batteries to power them. The industry partnerships are designed to help speed the development of new technologies into the market and to share the very high R&D costs.
Compact Crossover in 2020
Toyota and BYD's goal is to develop electric vehicles that are affordable to mass populations. They are targeting both electric sedans and SUVs. The vehicles will be sold under the Toyota brand by 2025. Batteries are needed by Toyota to reach its new goals. It wants half of its global sales from electric vehicles, including gasoline hybrids, by 2025. That's five years ahead of schedule.
Zero Emissions Market
Massive competition has developed among automakers in the zero emissions market because global emissions standards are tightening. The strengthening emissions regulations make electric vehicles of upmost importance. In China, Toyota plans to launch its first battery powered electric vehicle - a compact crossover - in 2020