Chinese battery and vehicle maker BYD is expanding its battery manufacturing capacity for a wide variety of applications.
The gigafactory, which will be located in the southern Chinese city of Guangzhou, will engage in the research and development, production and manufacturing of lithium polymer batteries for electric devices such as mobile phones, laptops and computers.
BYD estimates making a total investment of 4 billion yuan ($57.9 million U.S), and will realize an annual output of 13 billion yuan when it begins operation in 2020.
BYD also began construction of a gigafactory for vehicles in southwest China’s Chongqing in February.
For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.
© 2019 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.