According to the China Securities Journal, Chinese battery and electric automaker BYD has set up a plant to mass produce lithium batteries for its electric cars in Huizhou, southern China’s Guangdong province.
BYD, partly owned by Warren Buffet, has injected around RMB5 billion ($731.5 million) into the operation of the Huizhou plant, which produces rechargeable batteries, automobile parts and handset components.
Facilities for the production of batteries for the company’s electric cars are now almost ready to start operation.
China Daily said the Shenzhen-based company’s F3DM, China’s first plug-in hybrid, made its debut last December.
The Huizhou plant, the first plant capable of mass production of lithium-ion batteries that are the core technologies of BYD’s electric cars, is a key step in the company’s electric car manufacturing.
The Wall Street Journal reported Chairman Wang Chuanfu said in Xi’an, Shaanxi Province, during an interview at a BYD factory, that the company is aiming to sell its all-electric battery car in the US next year, ahead of the original schedule.