China’s BYD Aggressive on Lithium Battery and Hybrid Bus ProductionBy Cuong Huynh • Aug 26th, 2009 • Category: Clean Car Talk Daily Snapshots
Chinese battery and electric automaker BYD Co. has set up a plant to mass produce lithium batteries for its electric cars in Huizhou, south China’s Guangdong Province, according to the China Securities Journal.
BYD, partly owned by Warren Buffet, has injected around five billion yuan (about 731.5 million U.S. dollars) into the operation of the Huizhou plant, which produces rechargeable batteries, automobile parts and handset components, the newspaper Xinhua reported.
Facilities for the production of batteries for the company’s electric cars are almost ready now, since construction began in September last year.
The Shenzhen-based company’s F3DM, China’s first plug-in hybrid, made its debut last December.
The Huizhou plant, the first eligible for mass production of lithium-ion batteries that are core technologies of BYD’s electric cars, is seen as a key step in the company’s electric car manufacturing. Source: xinhuanet.com
In related news, on July 24, 2009, Shenzhen BYD Auto Company Limited, a wholly-owned subsidiary of BYD Company Limited, signed the Equity Transfer Agreement as transferee with Foshan Weishang to acquire the entire equity interests of Hunan Midea Coach for 60 million Yuan (US$ 8.8 million.)
Hunan Midea Coach, with its headquarters located in Hunan Environmental Protection Industrial Park, used to be a company engaged in the development, manufacture and sale of buses and coaches. After this acquisition, Shenzhen BYD Auto Company Limited will hold all the shares of Hunan Midea Coach and BYD Company Limited will be granted the permission by the government to manufacture buses and coaches.
BYD envisions entering into the new energy (hybrid and electric) bus field through this acquisition and plans to produce new energy buses in 2010. Furthermore, BYD will manufacture passenger vehicles in Hunan and plans to produce car models C3, C6, F2 and others.
This acquisition contributes to BYD’s new energy bus manufacturing and marketing and further enhances its automobile production capacity.
Cuong Huynh is a marketing communications consultant working in the San Diego area. Cuong is dedicated to helping individuals and companies maximize their presence on the Internet and efficiently take products and services to market through SEO and network marketing. Cuong also maintains a blog on Marketing at marketingautopsyblog.com. You can also find Cuong Huynh's profile on LinkedIn. For fun he maintains a blog on Vietnamese pho, soccer and do storyboards for movie and film projects. Follow Cuong on Twitter @CuongHuynh, @LovingPho, @CleanCarTalk, @BlockbusterFilm, @SoccerUSA.
Email this author | All posts by Cuong Huynh