Rechargeable battery maker BYD, revealing it was in talks with Toshiba and Panasonic, which are exiting battery manufacture, said it would invest RMB 200 million (US$24.1 million) this year expanding capacity for making handset and notebook batteries at its Shanghai and Shenzhen operations. BYD Chairman Wang Chuanfu said BYD aimed to become the world's largest rechargeable battery maker by 2006. He said BYD would also invest RMB 250 million this year to increase manufacturing capacity for LCD screens, key pads and other mobile-phone parts. Increased sales to Motorola and Nokia helped lift BYD's first-half turnover year on year by over 87%, to RMB 2.78 billion, and net profit by 46%, to RMB 475.4 million.
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