Toyota will share hybrid technology with Geely in hopes of expanding the Chinese market

According to Bloomberg, Toyota Motor said it is ready to share details of its hybrid vehicle engine technology with China and is in talks to license its hybrid system to Geely.

Although it is not clear what specific aspects of hybrid technology Geely and Toyota are discussing, people familiar with the matter said that the two companies have separately contacted Hunan Kelongyuan New Energy Co., Ltd., a Chinese battery technology supplier.

Given that most Chinese automakers still do not have hybrid technology, Toyota has not given up communicating with other potential partners.

At the Toyota Electrification Technology Exchange Conference held in Qingdao, China on August 27, Dong Changzheng, executive vice president of Toyota Motor (China) Investment Co., Ltd., revealed to the media that Toyota Motor is working with Geely Auto to promote hybrid technology through its Chinese hybrid core component supplier partner, China Renault.

Toyota's hybrid technology is relatively mature and has technical patents. As early as 1997, Toyota launched its first hybrid model, the Prius, which became the world's first mass-produced hybrid model. Today, Toyota's hybrid system THS-III has developed to the third generation, and many models are equipped with hybrid versions to achieve higher fuel economy.

Currently, the hybrid models launched by Toyota in China mainly include Prius, Corolla Hybrid, Levin Hybrid and Camry Hybrid.

Geely New Energy mainly focuses on pure electric vehicles and Volvo's 48V mild hybrid technology. Having hybrid system technology will undoubtedly help the company obtain more diversified new energy technologies.

As new energy subsidies decline, new energy technology paths will become diversified. According to relevant institutions, by 2020, the sales volume of hybrid vehicles in China will reach 8%, rising to 20% in 2025 and 25% in 2030.

Toyota is stepping up hybrid battery production in China through its Hunan Corun joint venture due to increased demand, Bloomberg reported, with the joint venture set to double output to about 210,000 battery packs a year by 2020 and aiming to further double annual output to about 480,000 after that.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.