BYD's new battery company in Yancheng, Jiangsu province, Yancheng Fudi Battery Co, was established on Aug. 6 with a registered capital of RMB 50 million ($7.71 million), information from data provider Qichacha shows.
The company's business scope includes auto parts and accessories manufacturing, auto parts research and development, auto parts sales, and sales of electric accessories for new energy vehicles.
This is BYD's latest move to expand its battery production capacity, laying the groundwork for supplying batteries to external customers.
BYD will supply "blade battery" to Tesla in the second quarter of next year, local Chinese media cls.cn said last Thursday, citing several sources familiar with the matter.
Tesla models equipped with the "blade battery" are now in the C-sample testing stage, the brief report said.
The "blade battery" is a power cell that BYD claims will not catch fire, and was first used in the flagship Han EV.
BYD's "blade battery" has not been available to other companies before due to capacity constraints. But recent indications are that its capacity has been significantly increased, and the company is still building a lot of new battery capacity.
At the end of last month, Jiemian.com reported that BYD's entire pure-truck lineup is now equipped with a blade battery, citing a company meeting note.
BYD also said it is now actively expanding its production capacity to cope with future sales increases and supply to external customers, the report said.
BYD sold 50,492 units of new energy vehicles in July, up 234.38 percent year-over-year. 205,071 units were sold from January to July, up 170.62 percent year-over-year.
BYD's total installed capacity of new energy vehicle power batteries and energy storage batteries in July was about 3.001 GWh, and the total cumulative installed capacity from January to July was about 15.708 GWh.
(Photo source: BYD)