BYD Starts Building a New Giant Battery Factory

BYD, China’s leading electric car maker, has started building a new battery factory in southwest China’s Chongqing Municipality.

The battery factor will cost 10 billion yuan (about 1.49 billion U. S. dollars. It will have an annual capacity of 20-gigawatt hours (GWh) of batteries.

BYD will build eight fully-automated lithium-ion battery production lines to make power cells, modules and packs, as well as develop supporting industries. The first-stage construction is scheduled to be completed and put into operation within one year.

BYD started construction on a 2.4-billion-yuan rail bus project started in Chongqing at the same time.

The municipal government megacity Chongqing plans to raise annual automobile production to 3.2 million by 2022, including 400,000 EVs and 1.2 million ICVs (intelligent connected vehicles), and generate an output value of 650 billion yuan (nearly $100 billion).

Chongqing has a population of 31.8 million.

According to the Chongqing Municipal Bureau of Statistics, in 2018, Chongqing GDP reached about RMB 2.036 trillion (about US$300 billion), a year-on-year increase of 6.0%. To be specific, the primary industry realized an added value of RMB 137.827 billion with an increase of 4.4%, the secondary industry RMB 832.879 billion with an increase of 3.0%, and the tertiary industry RMB 1.065 trillion with an increase of 9.1%.

SOURCES- Xinhua, BYD, Wikipedia

Written By Brian Wang

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