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China's BYD builds 12 GWh/yr Li-ion battery plant

08 Jun 2018 16:27 (+01:00 GMT)
China's BYD builds 12 GWh/yr Li-ion battery plant

Shanghai, 8 June (Argus) — Chinese electric car manufacturer BYD Auto will invest 1bn yuan ($159mn) to build a 12 GWh/yr lithium-ion battery plant in Xining, Qinghai province.

The project will be operated by its subsidiary Qinghai BYD, and construction will take around 24 months.

The company officially launched construction of a 30,000 t/yr plant for battery grade lithium carbonate in Qinghai province in February.

BYD Auto is one of the world's largest car producers, with sales of electric and hybrid cars reaching 113,669 units in 2017. It is on target to sell 200,000 units this year, and has shifted to producing more vehicles with ranges above 300km in response to the government's changes to the subsidy scheme.

The company's sales of new energy passenger cars reached 13,388 units in May, up by 54pc from 8,694 units a year earlier.

Prices for 99.5pc grade lithium carbonate fell to Yn128,000-135,000/t yesterday from Yn130,000-135,000/t on 5 June, their lowest since May 2017. Buyers bid low because demand is expected to fall ahead of the summer period.