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Toyota partners

Toyota Partners with Electric Car Giant BYD

July 29, 2019/in In the News/by Gray Leigh

Toyota Partners with Chinese EV Giant to Build Cars and Li-Ion Batteries

More than ever, automakers are concerned with batteries. Specifically, the kind that power electric vehicles. As Toyota partners with Chinese auto-titan BYD, the hunt for more efficient Li-Ion batteries continues to dominate global transportation.

READ: BYD Profit Swells as Chinese EV Industry Surges

Indeed, lithium-ion batteries underpin the world’s clean energy initiatives. Surprisingly, electric vehicles don’t comprise the bulk of demand. Instead, consumer electronics hold that distinction.

However, this is expected to change. Toyota’s decision to build electric vehicles and batteries will make sure of it.

A Strategic Partnership to Battle Climate Change (And Swell Profits)

Toyota partnersThe joint-venture isn’t that shocking. After all, the luxury vehicle market is one of the world’s most lucrative.

Moreover, BYD is the foremost electric vehicle company in China. Why is this significant? Because China is the world’s foremost electric vehicle market. Indeed, China has created 20 versions of America’s Motor City. All of them are designed to produce plug-in vehicles.

And nobody is better than BYD at doing just that. The Warren Buffet-backed company has ranked number one for battery-electric and plug-in hybrid vehicles since 2015.

Automakers Focus on Li-Ion Battery Tech

Toyota partnersMeanwhile, Toyota has struggled to compete with the likes of Tesla in the electric vehicle ring. Granted, the same can be said for every other automaker.

Nevertheless, one of the keys to success goes through battery manufacturing. Currently, top of the line Li-Ion batteries allow certain models to travel 300 miles on a single charge.

If Toyota creates a battery that rids drivers of range anxiety, the financial rewards are endless.

We’ll see if the partnership allows Toyota to build its eco-friendly dream.

 

Related Articles

Toyota and Panasonic to Make Lithium Batteries

Porsche Taycan Wildly Popular

Global Lithium Market for Batteries to Double

Ultra Lithium Inc. A team of lithium experts with a finger on the pulse of clean energy news, Ultra Lithium is a lithium exploration company with holdings in Argentina, Canada and the US (TSX-V: ULI, OTCQB: ULTXF and Frankfurt: QFB).

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LATEST NEWS

  • Ultra Lithium Cuts 1.81 Percent Lithium Oxide Over 10 Meters in Channel Samples at the Forgan Lake Lithium Property Northwestern OntarioMarch 3, 2023 - 10:16 am
  • Ultra Lithium Invites Shareholders and Investment Community to Visit Booth #2353 at PDAC 2023 Toronto, March 5-8, 2023March 2, 2023 - 6:00 am
  • Ultra Lithium Assays Up To 417 PPM Lithium in Drill Hole at the Laguna Verde Brine Lithium Project in ArgentinaFebruary 28, 2023 - 4:30 am
  • Ultra Lithium Intersects 2.68 Percent Lithium Oxide at The Forgan Lake Lithium Property in Northern Ontario, CanadaFebruary 8, 2023 - 5:00 am
  • Ultra Lithium Responds to Government of Canada Critical Minerals AnnouncementNovember 4, 2022 - 4:30 am

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Ultra Resources Inc.
1120 – 789 West Pender St.
Vancouver BC V6C 1H2
Canada

Kiki Smith, CPA, CGA
Chief Financial Officer
E: [email address protected by javascript]
T: +1-778-968-1176

Afzaal Pirzada, M.Sc.(Geo), P.Geo.
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