Published by Global Banking & Finance Review®
Posted on January 27, 2026
1 min readLast updated: January 27, 2026
Add as preferred source on GoogleBYD and Exxon Mobil are enhancing their hybrid tech partnership, focusing on new materials and product R&D under a new Memorandum of Understanding.
BEIJING, Jan 27 (Reuters) - China's BYD and U.S. oil major Exxon Mobil will deepen their partnership in hybrid technology, the Chinese electric vehicle maker said in a statement on Tuesday.
Under a long-term strategic Memorandum of Understanding agreement signed on Monday, the two companies will explore customised product research and development, collaborative possibilities in new material applications, among other fields, the statement said.
BYD launched engine oil jointly with Exxon Mobil specifically designed for its plug-in EVs last year.
(Reporting by Beijing newsroom; Editing by Jacqueline Wong)
Hybrid technology refers to systems that combine two or more different types of technologies, such as electric and traditional combustion engines, to improve efficiency and reduce emissions in vehicles.
Engine oil is a lubricant used in internal combustion engines to reduce friction, protect against wear, and help maintain optimal operating temperatures.
Plug-in EVs (Electric Vehicles) are vehicles that can be recharged from an external power source, allowing them to operate on electric power as well as traditional fuel.
Product research and development (R&D) involves the process of creating new products or improving existing ones through systematic investigation, design, and testing.
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