Shanghai (ZXZC)- BYD on May 28 kicked off the construction of its power battery plant at Ningxiang in China’s Hunan Province. Up to now, the facility has been built for nearly half a year.  According to a relevant official of the Hi-tech Zone, 12 single buildings are supposed to be completed fundamentally before the Spring Festival of 2020 and the automaker strives to enable the factory to kick off production in December next year.  

Involving a total investment of RMB5 billion (US$711 million) and covering an area of 640mu (426,667 square meters), the project’s first phase is expected to generate an annual output value of roughly RMB10 billion (US$142 million). The Ningxiang factory is designed to manufacture such core products as power battery cells and modules, and develop relevant supporting businesses as well.

It is reported that since the facility was sited, it has only took 13 days to finish 700,000-cubic-metre land leveling instead of two months usually.

BYD has deployed a number of power battery plants in recent years. On February 22, a NEV battery factory, with the annual capacity of 20GWh, was officially put into construction in Bishan of Chongqing.

Apart from the factories in Ningxiang and Chongqing, BYD still boasts this kind of factories in Shenzhen and Huizhou of Guangdong, Xining of Qinghai and in Xi'an (under plan). The total annual capacities are expected to reach 60GWh in 2020 as the EV maker’s power battery plants begin manufacture.  

Besides, the Chinese leader in EV field is scheduled to spin off its auto battery arm and then make it go public around 2030 (photo source: BYD).