FAW, BYD jointly launch battery production project

CHANGCHUN -- China's leading automaker First Automotive Works (FAW) and leading new-energy vehicle (NEV) manufacturer BYD kicked off construction of a battery production facility in Changchun, capital of Northeast China's Jilin province, on Saturday.

With a total investment of 13.5 billion yuan (about $2.14 billion), the project is expected to meet the needs of one million electric cars and achieve an output value of more than 20 billion yuan.

BYD will strengthen cooperation with FAW to build a strategic base for power batteries in Northeast China, said BYD Chairman Wang Chuanfu.