NAGOYA, Japan -- Toyota Motor said Friday it has agreed to develop electric vehicles with BYD, the Chinese leader in that field, aiming to roll out electric sedans and SUVs under the Toyota brand in China during the first half of the 2020s.
The tie-up, which includes development of batteries for electrified vehicles, may also lead to joint production as China loosens restrictions on local manufacturing of environmentally friendly autos by foreign companies. For now, the electric vehicles likely will be manufactured at Chinese plants that Toyota already operates with two local partners.
