China battery maker BYD is in talks to sell a 3billion yuan (around $449million) share of the company to a South Korean electronics firm.
Samsung Electronics is set to confirm this week that it has successfully made play to enter the battery industry.
Hong Kong rechargeable battery firm BYD has hired a new director as it gears up to increase its electric vehicle operations in the US.
Eva Lerner-Lam was named director of eastern US business to build up the operations of the New York-based office and drive regional sales of BYD’s entire line-up of electric vehicles.
The full portfolio of EVs include, electric buses and coaches, long-range electric taxis, eTrucks and battery-electric forklifts.
Lerner-Lamb said: “The time has come for electric vehicles and BYD is ready to meet the growing demand.
“It’s a very exciting opportunity to take technology that was developed in China—and leveraged and matured in large scale there—and adapt them to American standards, lifestyles and infrastructures.”
Together with Assistant General Manager Carlos Antunes, Lerner-Lam will continue BYD’s international efforts to expand electric vehicle charging infrastructure, open regional facilities and plants and deliver green-tech products like energy storage stations.
She said: “The game-changing technology is already here. It just needs to be applied and distributed.”
China’s BYD and German energy storage firm Fenecon have teamed up to work on several large-scale battery storage projects in the latter's home nation.
In a statement, Bavaria-based Fenecon said the projects will be similar to BYD’s recently opened 40MWh battery storage in Shenzhen, China, which is currently the biggest in the world.
China’s BYD is to build a plant for the manufacture of lithium-ion batteries and electric buses in Brazil.
The site of BYD’s first South American production facility will be Campinsas in São Paulo state. The factory is slated to open in 2015, will create 450 new jobs, the company said in a statement.
China has unveiled a new round of subsidies for fuel-efficient vehicles in a bid to combat rising air pollution in its major cities.
The government will provide up to 60,000 yuan ($9,800) to buyers of all-electric, "near all-electric" and hydrogen vehicles until 2015, according to the BBC. The policy is expected to boost Chinese automakers such as BYD, which makes electric cars and batteries. However, the programme does not include gasoline-electric hybrid cars.
In a statement, the government said the policy was aimed at "accelerating the development of new-energy vehicles, promoting energy saving and reducing air pollution". China aims to put five million "new-energy" vehicles on the road by 2020.
According to the state-owned Xinhua news agency, there were about 27,800 new-energy vehicles being used last year, mostly buses. China's last electric vehicle subsidy programme expired at the end of 2012, but failed to provide a large boost to electric car sales.