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China's BYD plans $894 million EV parts project, state media says

Published 07/08/2024, 08:20 AM
Updated 07/08/2024, 08:25 AM
© Reuters. FILE PHOTO: Cars are built at a BYD weld line in Shenzhen, China May 25, 2016.   REUTERS/Bobby Yip/File Photo
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BEIJING (Reuters) - Chinese electric vehicle manufacturer BYD (SZ:002594) has signed an agreement to build a factory for core parts of new energy vehicles with total investment of 6.5 billion yuan ($894.2 million), state-backed Securities Times said on Monday.

© Reuters. FILE PHOTO: Cars are built at a BYD weld line in Shenzhen, China May 25, 2016.   REUTERS/Bobby Yip/File Photo

The project will further improve manufacturing capacity of BYD's factory in the southern city of Shenzhen, the newspaper cited local television as saying.

($1 = 7.2695 Chinese yuan renminbi)

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