Energy Weekly | Cooperation of BYD and Toyota/ XPENG announced a new compensation plan

Here is Energy Weekly report. We are committed to bring together all the topics and new launching vehicles in the new energy area. Last week, the agreement of BYD and Toyota has become the hottest news in the new energy vehicle industry. And BAIC BJEV EC5 was officially launched. 

BYD&TOYOTA: to develop pure electric vehicles together and will launch the models before 2025

On July 19, BYD Company Ltd. (BYD) that the company and Toyota Motor Corporation (Toyota) announced that they have signed an agreement for the joint development of battery electric vehicles (BEVs). The two parties will 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. To curb global warming, both BYD and Toyota seek to reduce CO2 emissions by promoting the widespread use of BEVs. To accomplish these goals, both companies believe there is a need to put aside their rivalry and collaborate; therefore, the two companies have agreed to jointly develop BEVs.

Editor: Going forward, BYD and Toyota will make use of the electrified vehicles, and battery development technologies they have acquired through their market introductions and will work together to further develop BEVs that are attractive to customers and in further promoting their widespread adoption.

Renault and JMCG set JV

Renault has formed a joint venture partnership with Jiangling Motors Corporation Group (JMCG) to target the Chinese EV market, in a deal which will also see Renault take a 50% stake in the new venture.

Renault said it would increase its share capital by around 1 billion Chinese RMB, or roughly 128.5 million euros ($144 million), to acquire its 50% stake in the new venture.

This cooperation is in line with the strategic layout of JMCG and Renault Group and is an important part of the strategic layout of the two parties. Through this new project, Renault Group will further expand its influence in China's NEV market and promote the development of China's new energy industry. JMCG EV will also integrate resources through this cooperation, which is conducive to the rapid development of the company in the later period.

BAIC BJEV EC5: 99.9k-119.9k yuan with subsidy

On July 19, BAIC BJEV EC5 was officially launched with a total of 3 models. The price range is 99.9k-119.9k yuan with subsidy. The new model was positioned as a small SUV and adopted a “leopard-aesthetics” design.

In terms of power, BAIC BJEV EC5 offers two permanent magnet synchronous motors with the maximum power of 70kW or 80kW and is equipped with EMD 2.0 Pro intelligent electronic control system and One Pedal energy recovery system. In terms of battery, the new model will be equipped with the 48kW battery pack and the NEDC cruising range is 403km.