Local authorities in China’s Guangxi province announced recently that electric vehicle firm BYD’s subsidiary Guangxi Fudi will build a power battery and energy storage plant with an annual output of 45GWh in the province’s capital city of Nanning.
The land area of the project is about 2,500 mu (411.8 acres), with a planned investment of about 14 billion yuan ($2.2 billion). Zones for the manufacturing of power battery cells, modules and energy storage projects are estimated to cover about 750,000 square meters.
After the project starts, construction is expected to last 15 months, with the commencement of production set for 2023. Its annual output value will exceed 26 billion yuan, and about 10,000 new jobs will be created.
With the rapid growth of BYD’s car sales, the company has successively established several battery companies in recent years. Prior to this, FAW Group and BYD jointly established FAW Fudi New Energy Technology Co., Ltd., and a related power battery project featuring cooperation from both parties started in Changchun City, Jilin Province at the beginning of this year. The total production capacity of the project is 45GWh, which can meet the allocation demand of 600,000 electric vehicles every year and achieve an annual output value of over 20 billion yuan.
In March, BYD sold 104,878 new energy vehicles, up 422.97% year-on-year. Asset manager BlackRock conducted a conference call on Tuesday to investigate BYD’s performance, according to a record released by BYD on Wednesday.
Regarding the application of DM-i super hybrid technology in the company’s models, BYD said that since the launch of DM-i super hybrid models last year, it has received wide attention and a number of orders. In order to further enrich the company’s product matrix, BYD launched several DM-i super hybrid models in its Dynasty series and Ocean series.
In addition, BlackRock paid attention to the progress of pure electric driverless distribution vehicles jointly developed by BYD and Nuro, an American tech company. In January this year, a third generation pure electric driverless delivery vehicle jointly developed by BYD and Nuro was released. BYD said that the vehicle is planned to be put into mass production in early 2023.