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Fenghua Undertakes BYD New Energy Vehicle Project
- Details
- Category: Ningbo District
- Published: Tuesday, 31 May 2016 10:03
Fenghua officially signed the contract to undertake BYD New Energy Vehicle Project in the Ningbo & Shanghai Investment and Cooperation Meeting held on the afternoon of May 25th. As a vital project introduced to Fenghua, it will make up for the city’s weakness in the production of new energy vehicles, improve the industrial chain, and fuel the development of Ningbo’s auto industry. Meanwhile, it will also attract the settlement of a host of auto parts manufacturers.
The production base of BYD new energy vehicles is located in Binhai New Zone and will occupy an area of 300mu with an additional 600mu as back-up. The project will be carried out in two phases with a total investment of 3.5bn yuan of which 1bn yuan is for Phase One that’s to be initiated in June of 2016 and finished in the second quarter of 2017. Phase Two will start in 2018.
According to the statistics from China Association of Automobile Manufacturers, 340,471 new energy vehicles were produced of which 331,092 were sold in 2015. With an annual sale of 60,000 new energy cars, BYD indisputably ranked as the largest seller in global market
