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Toyota, BYD, Suppliers Team Up on EV Batteries, Parts
Toyota Motor Corp. and China’s Contemporary Amperex Technology Ltd. are forming a strategic partnership in which CATL will begin next year to supply batteries for Toyota electric vehicles made in China.
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Toyota Motor Corp. and China’s Contemporary Amperex Technology Ltd. are forming a strategic partnership in which CATL will begin next year to supply batteries for Toyota electric vehicles made in China.
Toyota says the alliance also will include Chinese EV specialist BYD, Kyoto-based battery producer GS Yuasa and Japanese electronic giant Toshiba, The Nikkei reports.
The deal is the latest by carmakers to sew up battery supply deals ahead of their massive shift from piston- to battery-powered cars. CATL also has battery development and supply deals with BMW, Guangzhou Automobile, Honda, Nissan, Volkswagen and Volvo.
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