China's BYD builds huge auto battery factory
China's top electric vehicle maker has built a factory to produce batteries. It will be one of the largest such plants in the world, and is aimed at meeting growing global demand.
Khodrocar - BYD's new factory is in the city of Xining. When it goes into full operation next year, it will produce enough batteries yearly to equip more than 570,000 of the company's vehicles.
But the company plans to supply other automakers as well.
BYD chairman Wang Chuanfu says the company could see the global auto industry was going electric, and now that trend is well established.
Wang says, "We believe the new-energy vehicle industry will develop further, so the auto battery industry has a huge growth potential."
China considers EV and other new-energy vehicles as one pillar of future growth. It aims to increase annual sales to 7 million units by 2025.
A subsidy program is helping battery manufacturers to deal with rapid growth.
Source: nhk.or.jp
Latest News