BUSINESS BYD launches battery factory

BUSINESS

BYD launches battery factory

Reuters-Xinhua

15:09, June 29, 2018

Chinese electric carmaker BYD Co has opened a new lithium battery plant in Northwest China's Qinghai Province, which will be the world's biggest when construction is fully completed next year, it said on Thursday.

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Photo: VCG

The factory, BYD's third, can eventually produce 24 gigawatt-hours (GWh) of batteries a year, and is part of the company's plans to raise its total annual production capacity to 60 GWh by 2020, it said in a statement.

BYD is building new battery production capacity to take advantage of China's aggressive new energy vehicle push, with the country desperate not only to cut air pollution from traditional combustion engines but also boost its high-tech clout.

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