BYD Auto and Hino to Develop Battery-Powered Trucks And Buses

Chinese electric car brand BYD Auto and Japanese truck maker Hino Motors said Wednesday they are jointly setting up a company to develop battery-powered trucks and buses.

BYD Auto and Hino to develop battery-powered trucks and buses

The venture is one of a series of tie-ups between Chinese and foreign automakers to share the multibillion-dollar costs of electric development. Beijing has spent heavily to promote the technology but is winding down subsidies.

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BYD Auto Industry Co., a unit of battery producer BYD Ltd., and Hino Motors Ltd. said each would supply 50% of the investment for the company, due to be launched next year, but gave no other financial details.

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Originally published by SFchronicle

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