Additional Capacity for BYD
BYD is going to invest heavily in its new production capacity in China as sales of plug-in electric cars exceeded 250,000 in the past 12 months and are growing. The investment in Changzhou will amount to around $1.5 billion.
According to Xinhua, the innovative approach is to set up an industrial base for cars and key components (sounds like a continuation of vertical integration) in Changzhou. The strategic cooperation agreement between the company and the local government was already signed.
Through an investment of 10 billion yuan (about $1.5 billion), BYD will build a production plant for 400,000 plug-in electric cars annually.