BYD to Invest $894.2 Million in Shenshan Shenzhen EV Parts Factory

Jul 8, 2024, 12:59 PM

China's electric vehicle manufacturer BYD has announced plans to invest $894.2 million in the third phase of an industrial park in the Shenshan Special Cooperation Zone in South China's Shenzhen. The project aims to boost manufacturing capacity at BYD's Shenzhen plant and will involve the construction of a factory for core parts of new energy vehicles. The total investment for the project is 6.5 billion yuan, as reported by state-backed media and Reuters. The announcement was made on Monday.