Toyota sells electric vehicle technology to Chinese startup | Smart Highways Magazine: Industry News

Toyota sells electric vehicle technology to Chinese startup

Share this story...Tweet about this on TwitterShare on LinkedInShare on FacebookShare on Google+Email this to someonePrint this pageBuffer this pagePin on PinterestShare on StumbleUponShare on Tumblr

Japanese multinational automotive manufacturer, Toyota Motor Corp has agreed to sell electric car technology to Singulato.

This will Toyota’s first deal with a Chinese electric vehicle startup, and will allow the firm to speed up development of a planned mini EV.

Reuters reports that Toyota will have preferential rights to purchase green-car credits that Singulato will generate under China’s new quota system for all-electric and plug-in hybrid vehicles.

Toyota sources told Reuters that, ‘with electrification, autonomous driving and car-sharing shaking up the industry, old ways need to be re-examined.’
 According to Reuters, Singulato will acquire a licence to use the design of Toyota’s eQ – a battery electric microcar.
 The deal is due to be announced on Tuesday at the Shanghai auto show, where Singulato will unveil a concept car based on the eQ.
 Singulato plans to redesign the car, tailoring it to local tastes to come up with a model by early 2021 that is more affordable and offers a longer driving range.
 
Comments

No comments yet.