The story appears on

Page A11

April 16, 2019

GET this page in PDF

Free for subscribers

View shopping cart

Related News

HomeBusiness

Toyota to sell EV tech to Chinese startup

Toyota Motor Corp has agreed to sell electric car technology to Singulato, its first deal with a Chinese electric vehicle startup, allowing the fledgling firm to speed up development of a planned mini EV.

In return, Toyota will have preferential rights to purchase green-car credits that Singulato will generate under China鈥檚 new quota system for all-electric and plug-in hybrid vehicles.

It will also gain a bird鈥檚-eye view into how Chinese EV startups operate and the strategies they pursue in a fast-changing marketplace, said Singulato Chief Executive Shen Haiyin and two sources at the Japanese automaker.

Singulato will acquire a license to use the design of Toyota鈥檚 eQ 鈥 a battery electric microcar. The deal is due to be announced today 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.

(Reuters)


 

Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

娌叕缃戝畨澶 31010602000204鍙

Email this to your friend