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.

Small business owners manage many uncertainties, but now the final cost of shipping doesn’t have to be one of them. Just in time for the holiday shipping rush, UPS today announced UPS Simple Rate, a predictable flat rate¹ shipping option designed to help small and medium-sized businesses (SMBs) streamline and simplify their outbound processes.

“UPS responds to our customers’ need for more convenience, choice and control,”said Kevin Warren, chief marketing officer at UPS. “Simple Rate helps small businesses take the guesswork out of shipping by providing simple, fast and transparent flat rates nationwide with guaranteed on-time delivery and no special packaging required.”

UPS Simple Rate enables SMBs to ship by UPS 2nd Day Air®, UPS 3 Day Select® and UPS® Ground services to anywhere in the U.S. for a flat rate.  It offers larger size options than what is in the marketplace today and customers do not need to enter package weight and dimensions or look up shipping zones when using UPS Simple Rate.  SMBs can accurately predict their shipping costs and bill their customers without incurring unexpected fees.

With UPS Simple Rate, SMBs and consumers can also use their own boxes and packaging sized to fit their products and enhance the brand experience. Shippers needing greater flexibility in box sizes and options can buy boxes at The UPS Store® locations or other retail outlets. UPS Customer Technology Program (CTP) customers can order UPS Simple Rate branded boxes² through the CTP program site.

UPS customers will continue to enjoy fast transit times, guaranteed delivery, convenient pickup options and more than 50,000 drop-off locations offered by UPS.  UPS Simple Rate is available in the U.S. 50 states, with separate rates for Alaska and Hawaii.  The rates are backed by UPS’s service guarantee, reliability and tracking.  UPS Simple Rate is available to account and non-UPS account holders through UPS.com/simplerate. No registration or enrollment is required.

Customers can ship their UPS Simple Rate packages by scheduling a pickup, dropping it at one of UPS’s convenient drop off options such as The UPS Store, UPS Access Point locations, Customer Counter, Drop Box or handing it to a UPS Driver.

1. Size and weight limitations apply. Additional charges may apply depending on package characteristics. See UPS Tariff/Terms and Conditions of Service and the UPS Rate and Service Guide for details.

2. Available to qualifying customers who participate in the UPS Customer Technology Program and meet applicable terms and condition