According to BYD, the company disclosed on April 24, 2020 that it and Hino Motors Co., Ltd. planned to cooperate in the development of pure electric commercial vehicles. On October 21, 2020, BYD Auto Industry Co., Ltd., a holding subsidiary of the company, signed a joint venture agreement with Hino. Both parties planned to set up a joint venture in China in 2021, with BYD and Hino each making a 50% capital investment. BYD and Hino would work together to develop pure electric commercial vehicles and their parts, and plan to initially launch such vehicles under the Hino brand by 2025.