BYD breaks in the leaders of the world market of electric vehicles

30 April 2019

The Chinese manufacturer has approved construction of a new plant to 400,000 electric vehicles a year

Chinese automaker BYD reached an agreement with the city of Zhengzhou (about halfway between Shanghai and Nanjing) the construction of its fourth plant for the production of electric vehicles, with annual capacity of 400 thousand cars. The exact timing of the construction of a new plant yet to be announced. The anticipated investment will be approximately $1.5 billion.

Electrocompetent BYD e6 was the first mass Chinese taxis

In addition, BYD is expanding its operating businesses. So, for example, the annual production capacity of the plant in XI'an will be increased from 100 thousand to 400 thousand, and plant in Changsha — from 100 thousand to 300 thousand electric vehicles.
Also BYD as a traditional battery manufacturer is building in the Chinese city of Chongqing new plant for the production of batteries with an estimated annual capacity of 20 GW•h Here would produce the elements themselves, and complete battery systems. The groundbreaking ceremony was held in late February and the first construction phase must be completed before the end of this year. In General, BYD plans to increase the production of batteries up to 48 GWh in the current year and up to 60 GWh by 2020, according to a published in 2018 Bloomberg report.

The BYD K9 electric bus for today the most mass and the most exported model of the electric bus in the world

BYD also is considering building rechargeable battery plants in Europe and in the United States. In Europe, the company is studying potential sites in the UK and Germany. In addition, the Chinese manufacturer of electric is considering an IPO of its battery business, and, as a separate legal entity.
By the way, BYD did not disclose information on their production capacity for the production of electric cars, but in 2018, the company sold about a quarter of a million NEV. Thus, the BYD group has already gained control of 1/5 of the Chinese market electric cars and hybrids and intends to go forward and upward.

BYD as the largest manufacturer of buses in the world does not stand still – photo, the latest model electric bus BYD K9U, presented at the IAA'18 in Hanover

PS Experts in one voice called BYD company is the main beneficiary of emerging in our eyes the world market of electric vehicles. So that the ambitious plans of the Chinese manufacturer are consistent with the growth of the most promising segment of the global automotive market. If, in 2018, the Chinese market amounted to 1,256 million electric and hybrid cars, the 2020 Beijing aims to achieve a market volume of two million New Energy Vehicles. Accordingly BYD with all your plans out the level of production more than a million electric vehicles per year.