Three battery projects belonging to Chinese electric vehicle firm BYD in the country’s southern Guangxi Zhuang Autonomous Region have reportedly made new progress, intended to provide support for the EV maker’s exploration of ASEAN markets.
As one insider told domestic media on September 13, “Guangxi ASEAN FinDreams Battery Corp’s 10GWh hybrid battery and 5GWh new battery project started on September 9. This project will use some existing factories and new land for research and development, production of battery cells, modules and others.”
This is BYD’s third power battery project in Guangxi. These projects now include power battery expansion, 30,000-ton lithium carbonate production, a new energy vehicle comprehensive test site, and a new energy vehicle industrial park.
Local departments have now reviewed an energy-saving report on the power battery expansion project, which aims at producing 1 billion watt-hours of lithium-ion batteries per year starting from June 2023.
The new energy vehicle industrial park project completed filing in April this year, and its power battery capacity is planned to be 45GWh. It is expected to be put into production in 2023 and reach the target within three years.
While consolidating battery supply, BYD, which is constantly expanding overseas, has begun to deploy operations in Thailand and other ASEAN countries this year. Power battery production projects in Guangxi – which is geographically close to Southeast Asian countries – will undoubtedly provide a strong guarantee for the firm to expand into ASEAN markets.
On September 8, the first overseas passenger car factory wholly invested in by BYD was officially confirmed in Thailand. It is expected to start operation in 2024, with an annual output of 150,000 electric passenger cars to be exported to ASEAN countries and Europe.
Earlier, BYD announced its official entry into the Thai passenger car market in conjunction with RÊVER, a domestic new energy vehicle dealer.
Although firm officials have not announced the first model in the Thai market, on August 13, BYD held a launch conference for the Yuan PLUS in Cambodia. Another person familiar with the matter disclosed that the Yuan PLUS will be released in Thailand in October and delivered in November.