On February 18, Changzhou National High-Tech District (CND) held a group signing ceremony for the district’s key projects in 2023 and the groundbreaking ceremony for the BYD Industrial Park for Core NEV Parts.

Chen Jinhu, secretary of the CPC Changzhou Municipal Committee, witnessed the signing ceremony and announced the commencement of the construction of BYD’s new project.

Thirty-five projects, spread in the sectors of new energy vehicle (NEV), smart energy, new materials, next-generation information technology, new medicines and medical devices, were signed at the ceremony, with 28.1 billion yuan in total investment.

BYD’s new facility is located in Changzhou Binjiang Economic Development Zone (CZBJ), with a 10-billion-yuan investment and an estimated annual capacity of 300,000 sets of core NEV parts, including powertrain and drivetrain.

BYD, China’s largest NEV manufacturer, has exceeded one trillion yuan in market value. Last year, BYD’s factory in Changzhou, which was established in 2019, produced more than 180,000 NEVs and achieved 28 billion yuan in output value.

Its new project in Changzhou will further drive the city’s goal towards the capital of new energy industries.    

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