China’s BYD signs $894m deal to build EV parts plant

China’s BYD has committed to a major investment by signing a deal to construct a new factory focused on manufacturing key components for electric vehicles (EVs). The project will require a total investment of 6.5 billion yuan ($894.2 million).

BYD is expanding its manufacturing operations in Shenzhen with a new facility to boost production capacity, according to the state-backed Securities Times.

Attribution: Reuters