BYD Company Ltd. and Toyota Motor Corporation announced that they have signed an agreement to establish a joint company to research and development for battery electric vehicles (BEVs).

The new R&D company, which will work on designing and developing BEVs (including platform) and its related parts, is anticipated to be established in China in 2020, with BYD and Toyota to evenly share 50% of the total capital needed. Additionally, BYD and Toyota plan to staff the new company by transferring engineers and the jobs currently involved in related R&D from their respective companies.

On the establishment of the new company, BYD senior vice president Lian Yu-bo said:

“We aim to combine BYD’s strengths in development and competitiveness in the battery electric vehicle market with Toyota’s quality and safety technology to provide the best BEV products for the market demand and consumer affection as early as we can.”

Toyota executive vice president Shigeki Terashi commented:

“With the same goal to further promote the widespread use of electrified vehicles, we appreciate that BYD and Toyota can become “teammates”, able to put aside our rivalry and collaborate. We hope to further advance and expand both BYD and Toyota from the efforts of the new company with BYD.”

BYD was founded in 1995 as a battery business and has grown into a total energy solution company, manufacturing not only electrified vehicles but other products such as large-size energy storage cells. The company name BYD stands for “Build Your Dreams” and core parts for electrified vehicles such as batteries, motors and power electronics are among the products that BYD develops in-house. In 2008, BYD became the first company in the world to sell mass production of plug-in hybrid electrified vehicles (PHEVs). Since 2015 onwards, BYD’s sales of BEVs and PHEVs have been ranked first in the world for four consecutive years.

Since Toyota launched the Prius, the world’s first mass-produced hybrid electric vehicle (HEV), in 1997, the company has become a pioneer of electrified vehicle development with a focus on HEVs.

Toyota has sold more than 14 million electrified vehicles worldwide and has accumulated extensive knowledge concerning the development, production, and sale of both HEVs and their related core components.

Also, based on the thinking that electrified vehicles contribute to the society only when its popularized, Toyota is initiating electrification globally.

In China, Toyota is also working on spreading electrification and also developing vehicles which meets Chinese customer’s needs in collaboration between Toyota Motor Engineering & Manufacturing (China) Co., Ltd. (TMEC) and the R&D centers established at Chinese joint-venture companies with China FAW Group Corporation (FAW) and Guangzhou Automobile Group Co., Ltd (GAC).

With the newly established joint R&D company, Toyota and BYD aim to work together to further develop BEVs that are attractive to Chinese customers, and by further promoting their widespread adoption, aim to contribute toward environmental improvement.

Alibaba Group Holding Limited announced an additional investment of RMB23.3 billion (US$3.3 billion) to increase its equity stake in Cainiao Smart Logistics Network Limited from approximately 51% to approximately 63%, by subscribing for newly issued Cainiao ordinary shares in its latest financing round and purchasing certain equity interest from an existing Cainiao shareholder.

Other existing shareholders also participated in the fundraising, demonstrating strong support for Cainiao’s long term outlook.

“Logistics is a key pillar of the Alibaba Business Operating System. It allows us to offer the best service to customers and to effectively advance our New Retail strategy. Cainiao strives to enhance service and user experience for merchants and consumers through superior technology and digital solutions, both within China and around the world. We are committed to supporting its ongoing development, to realizing greater synergies throughout the entire Alibaba Economy and accelerating digitization of the logistics industry,” said Daniel Zhang, Alibaba Group Executive Chairman and CEO.

The additional investment from Alibaba Group is a vote of confidence in Cainiao. With more financial resources, Cainiao will be able to continue its investment in technologies and logistics infrastructure services to strengthen its smart logistics network and enable innovations in business models, services and technological capabilities for the entire industry.

Cainiao is a global leader in technology-driven logistics and infrastructure. It has introduced IoT (Internet of Things) and smart supply chain solutions in the sector, along with algorithms and technologies to improve industry efficiency. It has also developed robust international and cross-border fulfillment solutions to facilitate Alibaba’s international e-commerce business, including Tmall Global, AliExpress and Lazada.

Claus-Peter Offen Tankschiffreederei  has now been renamed ZEABORN Ship Management Tanker GmbH & Cie. KG.

The company is part of Bremen-based ZEABORN Group since June 2019 and has started trading under its new name with effect from 4 November 2019.

Since August 2018, ZEABORN Group has bundled its ship management activities for dry cargo vessels – container, bulk and multipurpose – under the brand ZEABORN Ship Management.

ZEABORN Tankers will operate as a legally independent company under the brand name ZEABORN Ship Management as well, thus expanding the company’s service portfolio to the wet market for oil and product tankers.

The combined technically managed fleet of ZEABORN Ship Management currently comprises about 150 container and bulk cargo ships, multipurpose vessels and tankers. The company employs around 300 people on shore and approximately 4,550 at sea.

“Following our strategy to further consolidate the shipping industry and to expand our services as an integrated and globally active shipping company, entering the tanker management segment was a logical step. ZEABORN Tankers’ management and employees, the well-managed fleet and their organisational structure are a perfect match to ZEABORN Ship Management,” explained Jan-Hendrik Többe, managing partner of ZEABORN Group.

Matthias Ritters, Managing Director at ZEABORN Tankers, affirmed: “Under the brand of ZEABORN Ship Management we will continue to deliver the same high safety standards and quality ship management service our customers and business partners value and expect from us.”