INDUSTRY NEWS

BYD charging ahead with capacity investments at home and abroad

BYD has announced ambitious plans to extend its battery manufacturing capacity by a further 30 Gwh with a new facility in Xi’an, Shanxi Province. The investment is likely to cost around USD 1.74bn. This comes on the back of an announcement in August that the company will invest in a 20 Gwh factory in Chongqing City at a cost of USD 1.4bn.

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Future looking clearer for Lucid

US Electric Vehicle hopeful Lucid Motors received a major boost to its prospects with the announcement from the Saudi Public Investment Fund (PIF) that it will provide USD 1bn in financing to the company.

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