BYD to develop solar energy vehicle

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BYD to develop solar energy vehicle

Source: Global Times
[16:51 December 08 2010]
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BYD Co. will enter the solar energy field, said Xu An, the Chinese battery and vehicle maker's public relations' manager yesterday, according to the Shanghai Securities News.

"In the future, solar energy may become one of the driving forces of BYD's electric vehicles," Xu said.

Apart from the IT and auto business, BYD plans to enter a third field, in new energy, which consists of the solar power stations, energy storage and power plants and new energy vehicles.

According to the plan, BYD will transplant the existing 10-billion-yuan pure battery industry into the auto and cell phone battery industries, each with injections of 100 billion yuan capital.

BYD has 11 industrial bases in China, including Beijing, Shanghai, Xi'an and Shenzhen. The automaker expects an annual production capacity of over 1 million vehicles in 2011.

Agencies and Shi Jierui contributed to this story