BYD (HKG: 1211, OTCMKTS: BYDDY) has recently announced a strategic partnership with TAILG Technology Group, a leading Chinese electric two-wheeler manufacturer, to leverage BYD’s battery technology for applications beyond electric vehicles (EVs). This collaboration marks a significant milestone in the electric two-wheeler industry, with TAILG becoming the first major player to join forces with BYD.
At a product launch event, TAILG unveiled plans to work closely with BYD to address the challenges associated with two-wheeler batteries. The primary focus of the partnership is to develop BYD batteries that can match the lifespan of two-wheeler bodies, a feat that has not been achieved in the industry before. Additionally, the two companies will harness cloud-based big data to create a safety system aimed at enhancing the overall safety of electric two-wheelers.
TAILG also highlighted their commitment to improving the structural safety of batteries, a critical aspect in ensuring the reliability and performance of electric two-wheelers. By collaborating with BYD, TAILG aims to set new benchmarks in battery technology and safety standards for the industry.
Founded in 2003, TAILG has established itself as a prominent player in the electric two-wheeler market in China, boasting an extensive network of sales outlets and a global presence in over 90 countries and regions. On the other hand, BYD’s battery business, operated by subsidiary FinDreams, has a rich history in lithium-ion battery development since 1996, positioning it as a key player in the global battery market.
With rapid growth in recent years, BYD has emerged as the world’s second-largest power battery maker for EVs, capturing a significant market share. In the context of the global EV battery market, BYD’s share stood at 16.4% in the January-September period, trailing only behind CATL. This partnership between BYD and TAILG reflects a strategic alignment to capitalize on the growing demand for electric two-wheelers globally.
In China, the electric two-wheeler market has witnessed exponential growth, with ownership reaching 350 million units and production exceeding 42 million units in 2023. However, concerns around safety have been raised following incidents of electric two-wheeler fires. To address these challenges, FinDreams has intensified its research and development efforts, drawing on its expertise in passenger car battery technology to enhance safety standards for two-wheelers.
The collaboration between BYD and TAILG holds significant promise for advancing battery technology and safety standards in the electric two-wheeler industry. By combining their expertise and resources, the two companies aim to drive innovation and set new benchmarks for the industry. As electric two-wheelers continue to gain popularity as a sustainable mode of transportation, ensuring the safety and reliability of these vehicles remains a top priority for manufacturers and consumers alike.
