BYD of China has started the construction of its battery cell factory in the city of Chongqing with a planned annual capacity of 20 GWh, which was announced last year.
With an investment of 10 billion yuan (about 1.49 billion U. S. dollars) BYD will build eight fully automated production lines to produce lithium-ion cells, modules and complete battery packs for electric vehicles and plug-in hybrids. The first construction phase is to be completed and commissioned within one year.
As one of China’s traditional auto manufacturing hubs, Chongqing has attracted new energy vehicle manufacturers like BYD and a number of EV startups in recent years. The municipal government plans to raise annual automobile production to 3.2 million by 2022, including 400,000 EVs and 1.2 million ICVs (intelligent connected vehicles).
BYD is currently the world’s largest suppliers of electric buses. Recently the company released its electric trucks in Europe and last year BYD presented both driverless electric fork-lifts and aircraft tugs.