BYD currently has about 20 power battery production bases in China, and analysts expect it to have a capacity of 285 GWh by the end of this year.

This is the latest power battery production base BYD plans to build.

On August 15, BYD signed a strategic cooperation framework agreement with the Yichun city government in Jiangxi province, where it plans to invest RMB 28.5 billion ($3.98 billion) in a power battery base as well as a mining project.

The battery base will have an annual capacity of 30 GWh, while the mining project will be able to produce 100,000 tons of battery-grade lithium carbonate and ceramic clay, including lithium, annually.

BYD's power battery installed base in China in October was 7.74 GWh, ranking second with a 25.36 percent share, according to data released earlier this month by the China Automotive Battery Innovation Alliance (CABIA).

CATL continued to be the largest power battery manufacturer in China with a 48.33 percent share, with 14.76 GWh of power batteries installed in October.

In the LFP battery market, CATL installed 8.01 GWh in October, with a share of 40.73 percent. BYD ranked second with a 39.29 percent share.

By the end of 2021, BYD's battery capacity was 135 GWh, local brokerage Founder Securities said in a June 6 research note. The brokerage expects that figure to reach 285 GWh by the end of this year and 445 GWh next year.

BYD currently has about 20 power battery production bases in China, according to Founder Securities.

(Image credit: Founder Securities)