China’s BYD and ExxonMobil have signed a long-term agreement to expand their collaboration in hybrid technology, according to a company statement.

The memorandum of understanding covers joint research and development, as well as exploring new material applications.

Last year, BYD introduced engine oil developed with ExxonMobil for its plug-in electric vehicles.

The partnership aims to enhance hybrid and EV technology, but specific project details or timelines have not been disclosed.

The companies are based in China and the US, respectively, and have previously worked together on engine oil products for EVs.

🔗 Source: Reuters

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