ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Electric cars in China

BYD to build 4th electric-car plant for $1.5bn

New facility in Changzhou to roll out 400,000 vehicles a year

BYD controls a leading 20% share in China's electric vehicle market.   © Reuters

GUANGZHOU -- Leading Chinese electric-vehicle maker BYD plans to spend 10 billion yuan ($1.5 billion) to build its fourth plant for passenger cars.

The automaker signed an agreement Thursday with the government of the eastern city of Changzhou to produce electric vehicles and key components there. The new site will have an annual capacity of 400,000 autos.

Details on when the factory will break ground or the operational start date were not disclosed

BYD controls a fifth of China's electric-vehicle market, the largest in the world. The automaker, which does not disclose its production capacity for electric cars, sold about 250,000 of them last year.

Meanwhile, BYD is rapidly building up existing electric-vehicle plants. The company is spending 2 billion yuan at its Xi'an factory in central China to lift annual output capacity to 400,000 units from 100,000. Facilities in the central city of Changsha will receive 3 billion yuan to increase capacity to 300,000 units by next year, up from 100,000.

China's government aims to boost annual sales of electric and other "new-energy" vehicles to 2 million by 2020, up 60% from 2018.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media