BYD Company Ltd. (BYD) and Hino Motors, Ltd. have jointly announced the signing of a strategic business alliance agreement to develop commercial battery electric vehicles (BEVs).
The two companies said the alliance is expected start with the development of commercial BEVs development but may also include cooperation 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, said 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.”