Saturday, July 13, 2024

BYD Expands Shen-Shan Industrial Park with $890 Million Investment

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BYD has announced plans to invest RMB 6.5 billion ($890 million) in expanding its industrial footprint in the Shen-Shan Special Cooperation Zone, according to a report in the Shenzhen Special Zone Daily.

The new project, spanning three phases, aims to establish battery-pack production lines and a core parts factory dedicated to new energy vehicles (NEVs). The Shen-Shan Special Cooperation Zone, originally under Shanwei city’s jurisdiction in Guangdong province but now managed by Shenzhen municipal authorities, serves as an enclave for industrial development.

BYD’s initial investment in August 2021 for the first phase focused on auto parts production, followed by a subsequent RMB 20 billion commitment in January 2022 to establish the second phase as a vehicle manufacturing base. The first phase commenced operations in October 2022 and reached full capacity by December 2023.

In a move sanctioned by China’s Ministry of Industry and Information Technology (MIIT) in March, BYD relocated its Pingshan factory to the Shen-Shan Special Cooperation Zone, enhancing operational synergies and logistical efficiency.

Recent updates from the Shenzhen government indicate that the second phase of BYD’s industrial park achieved its design capacity of producing 750 NEVs daily by June. Situated adjacent to Xiaomo International Logistics Port, the park leverages proximity to facilitate efficient transportation of BYD’s NEVs, ensuring streamlined logistics operations.

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