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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.

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