By Gabby Chen
Chinese EV giant BYD started its new energy passenger car parts (phase II) project in Xi'an, northwestern China's Shaanxi Province, on January 28, reported JW Insights.
The project plans to invest a total of RMB13 billion ($1.92 billion) from 2023 to 2025.
By purchasing new equipment and optimizing the process, the phase II project will carry out technical transformation and expansion of the production line of automotive electronic parts.
After completion of this project, BYD will gain extra 400,000 units per year of production capacity for new energy auto parts. And the annual output value is expected to be RMB90 billion ($13.27 billion). It will also bring 13,000 jobs to the region, according to Xi'an Evening News.
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