Toyota steps up cooperation with FAW, GAC for electrification, ICV

Shanghai (Gasgoo)- Toyota has cemented the cooperation with two Chinese state-owned automaker partners, FAW Group and GAC Group, to jointly research and develop electrified vehicles, the Japanese automaker announced on September 26.

（Photo source: Toyota)

According to the framework agreements Toyota respectively signed with two companies, the Japanese and two Chinese automakers will make joint efforts to promote the R&D and popularization of electrified vehicles in the world's largest auto market.

Apart from co-launching more hybrid and plug-in hybrid models, all parties will be dedicated to rolling out affordable high-quality all-electric and hydrogen fuel cell models to satisfy Chinese consumers' demands over power diversity.

Besides, the step-up cooperation also involves ICV-related projects, said Toyota.

Under the consolidated partnership, all parties aim to enhance their own and each other's capability in personnel training and operational strength by sharing resources and talents.

Toyota, the NEV pioneer that launched the world's first mass-produced hybrid model, has so far sold over 14 million electrified vehicles across the world. Now, it still seeks to expand and speed up its NEV deployment, especially in China, the to-date world's largest EV market.

In July, 2019, the Japan-based automaker forged partnership with Chinese EV battery giant CATL and BYD, who produces both batteries and NEVs.

Toyota said the deal signed with CATL was for the stable supply and further development of NEV batteries.

Moreover, the tie-up with BYD would make them jointly develop sedans and low-floor SUVs as well as the onboard batteries for these vehicles and others with the aim to launch them in the Chinese market under the Toyota brand in the first half of the 2020s.