Auto giant BYD opens battery factory in Shaoxing
The opening ceremony of BYD's battery factory in Shengzhou, a county-level city of Shaoxing, on June 14. [Photo/zjol.com.cn]
The new battery factory of Chinese new energy automaker BYD started operations in Shengzhou, a county-level city of Shaoxing, on June 14.
With an investment of 13 billion yuan ($1.94 billion), the factory covers an area of 120 hectares and is expected to have an annual output of over 20 billion yuan.
Sheng Yuechun, Party secretary of Shaoxing, and Wang Chuanfu, chairman of BYD, delivered speeches at the ceremony.
According to Sheng, the city will try to attract more new energy vehicle manufacturers. He added that the new factory is expected to help upgrade Shaoxing's automobile industry.
Wang said that it took only eight months for BYD to construct and open the factory. The company said it will help transform the local industrial chain and offer jobs to locals.