Shanghai (ZXZC)- On June 15th, the groundbreaking ceremony for BYD's global R&D center and energy storage industrial park project was held in Longgang District, Shenzhen City, Guangdong Province, according to news posted on website of Shenzhen Municipal Government.

The latest move marks an important milestone for the company's expansion and commitment to R&D. With significant investments and partnerships in place, BYD is poised to enhance its global influence and contribute to the growth of the green energy storage industry.

Photo credit: BYD

The BYD global R&D center integrates administrative offices, as well as R&D, and other supporting facilities, aiming to create a research center with global influence and visibility. The project plans to involve 20 billion yuan and is expected to create approximately 60,000 new R&D related jobs.

After the completion of the BYD energy storage industrial park project, the company’s production capacity of energy storage systems will increase by 20 GWh per year, with over 10,000 R&D staff members. The project is planned to receive an investment of 2 billion yuan and is expected to achieve an annual output value of approximately 20 billion yuan.

Last month, the Shenzhen Public Resources Trading Center announced on its official website the transfer of two land parcels in Longgang. The land parcels were scheduled to be auctioned on May 29th and June 12th. According to the selection plan, BYD is the intended land user for both parcels.

The land parcel, numbered G02416-0119, which was already auctioned on May 29th, covers an area of 550,000 square meters and a floor area of 1.44 million square meters. It will be developed into a global R&D center and advanced manufacturing base project (Phase I, Batch I). The other land parcel will be developed into an energy storage industrial park project (Phase I).

On May 24th, BYD launched its first energy storage system based on its Blade Batteries, the BYD MC Cube, at a solar-related trade show.

The energy storage system is equipped with blade battery cells that have passed nail penetration tests and adopts a technology called CTS (cell to system).