BYD is expanding its battery manufacturing capacity in China with a new facility in Wenzhou, Zhejiang province. The new factory is set to be built with an annual capacity of 20 gigawatt-hours (GWh) and is scheduled to start production in 2024. BYD management, which did not provide details on what kind of battery will be manufactured in the said factory, announced that only the batteries to be produced in the new factory will be manufactured using the most advanced technological possibilities of the moment.
Batteries made by BYD use lithium-iron phosphate (LFP) technology. Such batteries are also widely used in electric buses. In addition to these bulky batteries that the majority of battery manufacturers are working on, BYD has recently turned to Natrium-ion batteries.
By the end of 20, BYD's total capacity exceeded 2021 gigawatt-hours, with 135 battery plants in China. However, its capacity for BYD batteries is expected to exceed 285 gigawatt hours by the end of this year and to 445 gigawatt hours next year.
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