8.10BYD on the move to expand lineup and capacity

BYD on the move to expand lineup and capacity

 

http://autonews.gasgoo.com/auto-news/1011686/BYD-on-the-move-to-expand-lineu
p-and-capacity.html

 

Shanghai, August 10 (Gasgoo.com) China's battery and auto maker BYD Co has
started to expand its product line-up and capacity by launching a series of
moves recently, China Daily reported.

 

On July 24, BYD signed a deal with Foshan Weishang Technology Industry
Development Group in Guangdong province to purchase the group's total stake
in Hunan Midea Coach, an ailing bus-maker from Changsha city of Hunan
province, for 60 million yuan.

 

Meanwhile, BYD also inked an agreement with the Changsha government to
invest in a bus-and-minivan manufacturing facility with an annual capacity
of 400,000 units, focusing on new-energy models.

 

On July 26, the Shenzhen-based private automaker planned to expand its
production facility in Xi'an city of Shaanxi province by setting up a new
plant with an annual output of 400,000 units to produce its F3 cars, other
new models and auto parts.

 

The F3 has become the most popular BYD model, and was China's fourth-best
selling car in the first half of this year.

 

"It's a positive move for BYD to acquire the 54-year-old Midea Coach as it
plans to tap into the commercial vehicles segment," said an industry
analyst. "The inexpensive acquisition would provide BYD with the necessary
government licenses to build buses and coaches."

 

With its advanced technology in batteries and alternative energy, BYD can
grab market share in the government's big purchase plan for new energy
buses, which has huge profit potential, the analyst noted.

 

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