Rechargeable battery manufacturer BYD has announced an expansion of the company’s production capacities and expects to deliver 250,000 units of its flagship energy storage system BYD Battery-Box Premium.
It comes as the Global Energy Storage Market is expected to grow by 50013.15 MW units during 2022-2026, while at the same time the market experienced supply challenges due to logistical problems caused by the global pandemic as well as by raw material shortages.
“We are very aware of the challenges many distributers and installers were facing in the last two years, when they struggled to fulfil customer demands,” says Julia Chen, global director, BYD Battery-Box.
“At BYD we are in a quite unique position as we produce nearly every component of our system from the raw materials to the development and production of battery cells, battery packs and battery management systems…