Shanghai (ZXZC)- On August 6, Fudi Industry Co.,Ltd., a separate battery business unit of BYD Company Limited, founded a wholly-owned battery subsidiary in Yancheng, Jiangsu province, according to the business information platform Tianyancha.

The Yancheng-based new company involves a registered capital of 50 million yuan ($7.72 million). Its business scope extends to cover the manufacturing, R&D, wholesale, and retail of auto parts, and the sale of new energy vehicle (NEV)-used electrical accessories.

BYD 'Blade Battery'; photo credit: BYD

Notably, another wholly-controlled battery subsidiary of Fudi Industry was set up in Wuwei, Anhui province in early August as well, according to Tianyancha. The company has a line of business covering the manufacturing and sale of batteries, the R&D of new material-related technologies, and the production, sale, and R&D of electronic-dedicated materials.

According to public records, BYD's Fudi battery unit has built six manufacturing bases in China, which are located in Chongqing, Shenzhen, Xi’an, Qinghai, Changsha, and Guiyang. Of those, the facilities in Chongqing, Changsha, and Guiyang are mainly used to manufacture BYD’s “Blade batteries”. The automaker aims to lift the annual capacity of Fudi to 75GWh by 2021 and 100GWh by 2022.

A local media channel revealed last week that BYD would supply Tesla with its ultra-safe “Blade Batteries” from the second quarter of 2022, citing sources familiar with the matter. It was also reported that the Tesla-branded model carrying the “Blade Battery” has gone into the phase of C sample testing.

BYD declined to comment on the rumor.