Electric vehicle innovation enters a new phase with the establishment of the FAW-BYD Battery Plant

Dew Briefs:

The FAW Fudi New Energy Power Battery Project in Changchun, Jilin Province, is a collaboration between China FAW Group Co., Ltd. and BYD Co., Ltd. It aims to establish a strategic base for new energy vehicle power batteries in Northeast China. The project covers 370,000 square meters and has a budget of 18 billion yuan. It aims to achieve a production capacity of 45GWh across three phases. BYD’s blade battery technology is being used in the initial products, resulting in an 82.9% YoY increase in FAW Hongqi’s sales.

The success of this venture is evident from the impressive sales figures of FAW Hongqi in January, with a year-on-year increase of 82.9%. The EH7 sedan and EHS7 SUV, which are part of Hongqi’s new electric vehicle lineup, have captured the spotlight and are set to redefine the medium and large electric vehicle segment.

Although the current models rely on batteries sourced from CATL and FAW, the future products from this venture are poised to introduce new and exciting aspects to the market.

• The facility, being the first NEV battery base in northeast China, will drive the transformation and upgrade of the automobile industry and the high-quality development of the traditional industrial base.
• Qiu Xiandong, chairman of FAW, emphasized that the project will leverage the resources of FAW and BYD to ensure efficient operation and support the low-carbon development of the automobile industry and the comprehensive revitalization of Jilin.
• The establishment of this NEV battery base will not only benefit the automobile industry but also contribute to the overall revitalization of Jilin, aligning with the goal of promoting sustainable and eco-friendly practices.

Diver insights:

• FAW Fudi New Energy Power Battery Project in Changchun, Jilin Province is a game-changer in the world of new energy vehicles.
• This groundbreaking venture, a collaboration between China FAW Group Co., Ltd. and BYD Co., Ltd., is setting the stage for the future of sustainable transportation.
• With a massive budget of 18 billion yuan, this project is poised to make a significant impact on the industry.
• FAW Fudi New Energy Technology Co., Ltd., established in early 2022, covers an impressive area of 370,000 square meters.
• The project aims to achieve a remarkable 45GWh production capacity across three phases, with each phase contributing 15GWh.
• BYD’s cutting-edge blade battery technology is at the heart of this venture, ensuring safety, endurance, and longevity.
• Efficiency and integration are key principles in the design philosophy, without compromising on module flexibility.
• The success of this initiative is evident in the soaring sales of FAW Hongqi, which have increased by 82.9% year-on-year.
• The EH7 sedan and EHS7 SUV, equipped with Hongqi’s new electric jewels, are set to redefine the medium and large electric vehicle segment.
• While the initial products rely on batteries from CATL and FAW, the future promises even more innovative and fresh offerings from this pioneering project.