Today’s Pickup: BYD And Toyota Announce Joint BEV Venture

Chinese electric vehicle maker BYD and Toyota Motor Corp (NYSE: TM) have announced a new joint venture focused on researching and developing battery electric vehicles. Scheduled to launch in China in 2020, the venture will design and develop electric vehicles and platforms. The former are intended for the Chinese market, and will be designed to “be attractive to Chinese customers,” according to a release.