Toyota and BYD join forces for EV development in China

Panasonic Li-Ion EV batteryToyota and BYD will partner to develop BEVs for the Chinese market, the two companies announced Thursday. The automakers will invest 50-50 in a new company, the primary mission of which will be to design and develop BEVs from the ground up. Staffing of the new company's engineering and R&D departments will come from the pool of existing Toyota...