BYD, ExxonMobil to Jointly Explore New Materials (MoU)
On January 26th, BYD and ExxonMobil China signed a strategic cooperation memorandum of understanding. The two companies will continue to leverage their innovative capabilities in joint technology research and development and results transformation, focusing on deepening cooperation in areas such as customized product development, technological collaboration and standard setting, and joint brand empowerment. They will also actively explore more collaborative innovation possibilities, including the application of new materials, to jointly contribute to the industry's sustainable and intelligent future development and achieve a long-term vision of "strong alliance and mutual benefit."
This signing builds upon the existing cooperation between the two companies. Previously, BYD and ExxonMobil jointly launched the BYD Mobil™ Hybrid Special Series customized engine oil specifically designed for plug-in hybrid vehicles.
ExxonMobil will leverage its global production network, comprehensive logistics and distribution network, and mature supply chain management system to provide BYD's global production bases with stable, timely, efficient, and locally compliant supply of lubricants and related products.
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