BYD and ExxonMobil extend hybrid tech partnership in China
BYD Automobile Industry Co., Ltd. and ExxonMobil China Investment Co., Ltd. signed a long-term strategic cooperation memorandum on January 26 at BYD’s headquarters in Shenzhen. The agreement confirms an expansion of cooperation between the two companies in the field of new energy hybrid technology. The signing formalizes a continuation of an existing partnership rather than establishing a new joint venture or equity arrangement.
According to BYD’s January 27 announcement, the memorandum establishes a framework for continued cooperation on joint technology research and the industrial application of the resulting outcomes. The agreement focuses on hybrid technology and associated technical coordination. No financial terms, investment figures, or product launch timelines were disclosed.
The signing ceremony was attended by senior executives from both companies, including BYD chairman and president Wang Chuanfu and ExxonMobil executives responsible for global and North Asia lubricants operations. The announcement did not indicate that the executive discussions led to any additional binding agreements beyond the memorandum.
The cooperation builds on prior joint development work between BYD and ExxonMobil China. Previously, the two companies launched a customized engine oil product developed specifically for plug-in hybrid vehicles. According to Chinese media reports, the product was designed to address operating characteristics common to plug-in hybrid engines, including frequent low-temperature and short-distance operation.
Customized product development remains a key focus under the renewed cooperation framework. The memorandum states that both parties will continue to coordinate during the product development and technical validation processes for hybrid technology applications. No specific vehicle models or powertrain platforms were identified.
The agreement also includes technical collaboration and joint participation in standards-related work linked to hybrid and new energy technologies. The announcement does not specify target standards, regulatory bodies, or implementation schedules.
In addition to technical cooperation, ExxonMobil will provide lubricant and related product supply support to BYD’s production bases. The announcement states that ExxonMobil will rely on its global production, logistics, and supply chain management systems to support BYD’s manufacturing operations in multiple regions. Details regarding volumes, contract duration, or geographic allocation were not disclosed.
The memorandum further notes that both companies will explore opportunities for cooperation in new materials applications. This area is described as exploratory, with no specific materials, development programs, or commercialization plans confirmed.
BYD is a major Chinese manufacturer of battery-electric and plug-in hybrid vehicles, while ExxonMobil China Investment Co., Ltd. operates as ExxonMobil’s investment arm in China, with activities spanning energy, chemical products, and automotive-related technologies.
The agreement confirms that both companies will continue cooperation under a long-term strategic framework centered on hybrid technology development and related industrial support.
