According to Reuters, Toyota is planning to cooperate with BYD and prepare to launch a pure electric car product in the Chinese market by the end of next year. It is reported that this product will achieve two major features: high cost performance and large space. The actual size may be larger than existing compact products such as Corolla and Levin.
The key to achieving these two features is the use of BYD’s blade battery. Reuters also reported that BYD’s lithium iron phosphate technology can help Toyota achieve a balance between price and space. As early as 16 years ago, BYD created the F3 product based on Toyota Corolla, and now it has become Toyota’s battery supplier, helping Toyota launch a special version of the bZ series in China.
An insider from Reuters revealed that the price of this special product will be within 200,000 RMB, competing with the compact products launched by Tesla in the future. It is worth mentioning that it was previously rumored that Tesla would introduce BYD as a supplier to provide lithium iron phosphate batteries to expand battery supply and improve vehicle profitability. Compared with other manufacturers, BYD’s lithium iron phosphate battery pack has strong cost competitiveness.
Currently, Changan Ford is cooperating with the Chongqing government to use BYD’s NCM811 battery on its Mustang Mach-E. In the future, we may see more joint venture manufacturers choosing BYD as their battery supplier.
🔗Source: Reuters
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.