Auto giant BYD to invest in Guiyang city

Representatives from municipal government of Guiyang city – capital of Southwest China's Guizhou province – signed an agreement with Chinese automaker BYD on April 1, for the company to expand its investment in electric vehicle battery projects and production lines there, among other things.

Under the agreement, both sides will have in-depth cooperation in what was called a new type of power battery industry and battery pack production lines.

In May last year, it was announced that a BYD plant producing its new blade batteries – a thin and advanced electric vehicle battery – with an annual production capacity of 10 gigawatt hours had gone into production in Guiyang.

Hu Zhongxiong, secretary of the CPC Guiyang municipal committee, offered congratulations on the signing of the latest investment agreement and said that Guiyang and the nearby Guian New Area would provide a host of business opportunities with development potential.

Hu urged Guiyang and BYD to achieve mutually beneficial results. Guiyang and Guian would ensure the safety and quality of projects under construction, helping them to be implemented efficiently and rapidly.

BYD Chairman Wang Chuanfu said the company would grasp the opportunities in new energy vehicle development, increase its investment in Guiyang and Guian and help them to improve the quality of intelligent manufacturing.