BYD plans new EV plant in Changzhou
BYD has announced plans to build a new manufacturing hub for battery powered passenger vehicles and key components in the city of Changzhou, in China's Jiangsu province.
China's leading electric vehicle manufacturer signed a cooperation agreement with the Changzhou municipal government for a CNY10bn (US$1.49bn) investment in a 400,000 vehicle/year manufacturing facility.
BYD also said it would establish an R&D centre at the facility at a later stage.
The new facility will strengthen the company's EV manufacturing network in the country, which also includes plants in Shenzhen, Xi'an and Changsha.