BYD, CATL keen on capacity expansions for power batteries

China’s major battery makers including BYD and Contemporary Amperex Technology (CATL) are actively proceeding with capacity expansions to meet ever-increasing demand amid growing penetration of new energy vehicles in the auto market, according to industry sources.BYD has recently signed a pact with China’s Jinan High-tech Industry Development Zone Administration through a new battery subsidiary to carry out a CNY10 billion (US$1.477 billion) investment project, aiming to set up 16 battery production lines with a combined annual capacity of 30GWh, the sources said. Over the past two years, BYD has established around 15 battery manufacturing subsidiaries around China looking to sharply expand its battery capacity for a higher market share in China.BYD’s battery output is mostly absorbed by its own EVs. Statistics show total sales of BYD EVs shot up 161.85% on year…

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