BYD's industrial park in Fuzhou city, Jiangxi province, will start mass production on April 15, with a planned annual capacity of 200,000 vehicles, according to local media.
(Image credit: BYD)
BYD's industrial park in Fuzhou city, Jiangxi province, will start mass production on April 15, its fifth car production base in China, technology media My Drivers reported today.
The RMB 15 billion industrial park covers an area of about 2 million square meters and has a planned annual production capacity of 200,000 vehicles, according to the report.
BYD (OTCMKTS: BYDDY, HKG: 1211), China's largest maker of new energy vehicles (NEVs), has halted production of fuel vehicles since March and has fully switched to pure electric and plug-in hybrid businesses.
In February, the company said it was aiming to serve 3 million NEV customers this year, implying a target of about 1.5 million NEV sales this year.
On March 30, local media Cailian quoted the company's investor meeting minutes as saying that BYD's vehicle backlog reached 400,000 units and were still increasing month by month.
BYD's Han DM-i model has received good order performance since its launch and is expected to sell more than 30,000 units of the Han series in a single month, the minutes showed.
In a conservative scenario, BYD expects it will sell 1.5 million units in 2022, and if supply chain conditions improve, sales are expected to reach 2 million units, according to the minutes.
Before the Fuzhou plant goes into operation, BYD has four vehicle production bases in China, in Shenzhen, Xi'an, Changsha and Changzhou, with a capacity of 600,000 units in 2021.
The company is currently building new production bases in Hefei, Zhengzhou, Jinan and Xiangyang.