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By Nikkei Asian Review / Oct 22, 2020 12:22 PM / Business & Tech

Photo: VCG

Photo: VCG

Truck manufacturer Hino Motors and electric vehicle maker BYD Auto Industry will set up a 50-50 joint venture in China next year to develop electric trucks and buses for the Asian market.

The venture will also develop EV components under the plans announced Wednesday.

The move shows a broader push into next-generation energy sources by Tokyo-area-based Hino, a member of the Toyota Motor group that also has a tie-up with Volkswagen truck and bus unit Traton.

New electric commercial vehicles will be released in Asian markets in the first half of the 2020s under the Hino brand. The companies, which announced a partnership in April, did not what models or markets will come first.

Earlier this month, Hino and Toyota announced plans to develop a prototype hydrogen-powered truck for the North American market in the first half of 2021 and begin mass production by 2024.

Hino's alliance with Traton in electric vehicles and other emerging fields was formed in 2018.

Contact editor Marcus Ryder (marcusryder@caixin.com)

Related: New-Energy Vehicle Resurgence Turbocharges BYD Profits


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