Chinese electric vehicle (EV) maker BYD plans to invest $1.2 billion in building a new battery factory in China, according to environmental appraisal filings.
FinDreams Technology, the company’s battery unit, is aiming to build a facility with capacity for 40 GWh per year for its Blade Battery, reported Reuters.
The Blade Battery is a less bulky lithium-iron-phosphate (LFP) battery. The plant would be in the city of Zhengzhou in Henan province, according to environmental filings published on the Zhengzhou government website on Friday seeking public feedback on the project.
BYD has been asked to comment.
