Toyota and China's BYD will build EVs together

Toyota said it would develop battery electric vehicles and batteries with BYD Co Ltd, in a sign it was ramping up partnerships with Chinese players as planned to build affordable EVs for the world's top auto market. In a joint statement, Toyota and the Chinese electric automaker said on Friday that they would develop sedans and sport utility vehicles, which would then be sold under the Toyota brand in China before 2025. Earlier this week, Toyota announced it was teaming up with China's Contemporary Amerex Technology Co Ltd (CATL) to supply and develop batteries for lower-emission vehicles.