A few days ago, BYD Automobile Industry Co., Ltd. (hereinafter referred to as BYD) and Hino Motor Co., Ltd. (hereinafter referred to as Hino) announced the signing of a joint venture agreement to establish a new company to develop pure electric commercial vehicles.
The new joint venture is planned to be established in China in 2021, with BYD and Hino Group each contributing 50%. It will combine the reserves of the two companies to jointly develop pure electric commercial vehicles and electric vehicle parts, and quickly realize ideal products that meet the needs of customers (mainly in the Asian market). The company will launch a pure electric commercial vehicle under the Hino brand by 2025.
BYD and Hino stated that the new joint venture will be established in China, and the development models include electric trucks and buses. The chairman will be selected from Hino and the CEO will be selected from BYD. BYD plans to establish as soon as possible after obtaining anti-monopoly approval. .
Prior to joining hands with Hino, BYD had a wide-ranging layout in the field of new energy commercial vehicles. BYD currently masters the core technologies of electric vehicles such as batteries, IGBTs, motors, and electronic control, and can provide overall new energy solutions including new energy vehicles such as passenger cars, commercial vehicles, forklifts, and power batteries.
In the field of pure electric commercial vehicles, BYD’s product line covers electric products such as pure electric buses and pure electric trucks. Currently, BYD’s pure electric bus K9 has an operating footprint in more than 50 countries and regions, 300 cities, and sales of more than 5 With 10,000 units, the cumulative sales of pure electric buses (above 10 meters) ranks first in the world.