BYD is planning a new factory for electric vehicle batteries with an annual production capacity of 20 GWh in the city of Bengbu in Anhui province, China. The total investment for the production facility is expected to amount to six billion yuan, about 750 million euros.
The Reuters report refers to information from the Bengbu municipal government. More detailed information on the schedule is not yet available. To date, BYD maintains battery plants at its headquarters in Shenzhen, in Qinghai and Guangdong. In 2018, the Chinese battery and electric car maker also announced plans to build additional battery factories in Chongqing and Xi’an cities. The first phase of construction should be ready by now in Chongqing, as BYD, at the groundbreaking ceremony in February 2019 said they would complete it within a year.
A market analysis of the first half of 2020 suggests that BYD has recently struggled with a weakening battery cell business. In general, the market shrank 16.8 per cent from 64.1 to 53.3 GWh of capacity in the Corona-ridden first seven months of the year. While South Korean electric vehicle battery makers doubled their market share, BYD only managed 3.2 GWh, down 61 per cent from the identical period last year, according to the statistics.
BYD was founded in 1995 as a battery producer, the BYD Auto division responsible for electric buses and cars has only existed since 2003. So far, BYD produced electric buses in Europe and the United States but imports battery cells from China. In South America, the group has already opened a plant to build LiFePO4 battery modules for electric buses in Manaus in the Brazilian state of Amazonas as reported.
BYD unveiled a new LFP battery in March 2020. The so-called Blade Battery is supposed to have a higher energy density, be safer and be installed in the Han e-sedan for the first time. This model could also be offered in Europe at a later date.
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