CHANGZHOU, China, May 6, 2019 /PRNewswire/ -- Chinese plug-in electric vehicle (EV) maker BYD announced on April 25 that it will set up a manufacturing facility for EVs and EV components in Changzhou National Hi-Tech District (CND), in a move to meet increasing demand from the EV market and expand its production capacity of pure electric passenger vehicles. With an expected investment of 10 billion yuan, BYD's new manufacturing facility in eastern China is on track to become capable of churning out 400,000 complete vehicles and delivering a production value of over 50 billion yuan annually once completed.
The new facility will manufacture BYD's Dynasty series and "e" product series (pure electric vehicles ranging from A00-class to C-class, spread across to ten models). The models feature an energy consumption of 17.3-17.9 KWh per kilometer and a driving range of 450-600 kilometers. The Chinese carmaker also plans to eventually set up a research and development center in Changzhou.
Wang Quan, secretary of Changzhou Municipal Committee of CPC, said during his meeting with Wang Chuanfu, founder and chairman of BYD, that establishment of the new facility is in line with the ongoing trends of the EV sector, as well as with BYD's growth strategy and Changzhou's planning for its next stage of development. The win-win collaboration between BYD and the city of Changzhou brings together the carmaker's strengths in branding, technologies and market presence with Changzhou's advantages in industrial development, talent and strategic location, creating a synergy that is expected to bode well for the development of China's EV sector in terms of technological innovation and industrial competitiveness as well as the country's roadmap towards becoming a leading provider of medium and high-end renewable energy products worldwide.
The BYD chairman expressed his confidence in the strategic partnership, adding that the new facility represents an important milestone for both Changzhou and BYD while the project will facilitate both parties' efforts in gaining a strong footprint in a new wave of industrial reform.
SOURCE Changzhou National Hi-Tech District