Shanghai (Gasgoo)- On November 19, BYD signed an agreement with the Shenshan Special Cooperation Zone during the Shenzhen Intelligent Connected Vehicles and Advanced Materials Industry Investment Promotion Conference, aiming to build the Phase IV facility of the Shenshan BYD Auto Industrial Park, according to a post on an official WeChat account of Shenzhen's government. This development signifies a further boost to BYD's investment in the city.
The Shenshan Special Cooperation Zone has established a robust industrial framework centered on new energy vehicles (NEVs), supported by sectors like new-type energy storage, advanced materials, and intelligent manufacturing equipment. The zone has already attracted nearly 30 leading enterprises in these industries, strengthening its position as a key player in the region's economic growth.
BYD's Shenshan Auto Industrial Park has achieved remarkable milestones across its previous phases. The Phase I project, focusing on NEV components, began construction in August 2021 with an investment of 5 billion yuan. It commenced operation in October 2022, and by December 2023, all 16 factories were fully operational.
The Phase II project, an NEV manufacturing base, was signed in January 2022 with a total investment of 20 billion yuan. It went into volume production in June this year, with a daily output of 750 vehicles, becoming a cornerstone for BYD's capacity expansion in South China.
Notably, the construction-to-operation timelines for Phase I and Phase II were an impressive 349 days and 379 days, respectively.
The Phase III, currently under construction, focuses on battery pack lines and core NEV components, involving an investment of 6.5 billion yuan and projected annual output exceeding 10 billion yuan.
Earlier this year, in March, China's Ministry of Industry and Information Technology approved the relocation and expansion of BYD's Shenzhen NEV passenger car plant to the Shenshan Special Cooperation Zone, further consolidating the company's presence in the area.
Looking ahead, the completion and full-scale production of Phases III and IV are expected to drive the annual output value of the industrial park beyond 200 billion yuan.
In a symbolic milestone just one day prior to the signing, BYD rolled out its 10 millionth NEV, becoming the first automaker worldwide to achieve this landmark.
