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BYD to Quadruple EV Battery Capacity in China
China’s BYD Co. Ltd. is spending $3 billion to nearly quadruple its capacity to make batteries for electric cars.
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China’s BYD Co. Ltd. is spending $3 billion to nearly quadruple its capacity to make batteries for electric cars, The Nikkei reports.
The expansion will raise the company’s annual battery capacity to 60 gigawatt-hours by 2020 and enable it to become a major battery supplier to other EV makers. BYD began as a supplier of batteries for mobile phones before expanding into carmaking.
The company operates two EV battery plants in Guangdong Province with combined capacity to make 16 GWh of energy storage devices per year.
Yesterday BYD opened a third EV battery facility in Xining. The 10 billion-yuan ($1.5 billion) factory can produce batteries able to store 24 GWh of energy annually. BYD says the output of the new plant alone would be enough to power 1.2 million plug-in hybrid cars or several hundred thousand all-electric vehicles.
BYD plans to erect a fourth battery plant, also in Xining. That 9 billion-yuan ($1.4 billion) complex will have capacity of about 20 GWh, according to The Nikkei report.
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