Hefei Daily reported on Thursday that BYD’s sixth vehicle manufacturing base, located in the city of Hefei, has seen its first vehicle roll off the production line.
BYD’s Hefei Base Project Phase I involves a total investment of 15 billion yuan ($2.24 billion). The project will achieve an estimated annual output value of over 50 billion yuan after production, and is expected to drive the total output value of the upstream and downstream industrial chains to 100 billion yuan. The endeavor will require continuous investment.
BYD’s Hefei base project manufactures the firm’s best-selling Qin PLUS DM-i model. Except for the complete vehicle, the core components, such as the engine, motor and assembly, are all produced in the Hefei base.
In the middle of this month, Hefei BYD Auto Co., Ltd. underwent industrial and commercial changes, and its registered capital doubled from 1 billion yuan to 2 billion yuan. The company was established in July 2021, and its legal representative is He Zhiqi, and it is wholly owned by BYD Automotive Industry Co., Ltd.
Hefei has gathered 305 enterprises in the new energy vehicle industry, including BYD, NIO, Volkswagen (Anhui), JAC Motors, Hefei Changan and Ankai, as well as key supporting enterprises such as Gotion High-Tech, CALB and JEE. In 2021, Hefei’s new energy vehicle industry achieved revenue of 102.95 billion yuan and output of 145,000 vehicles.