FAW-FINDREAMS begins volume production for PA75 power battery project

Shanghai (Gasgoo)- On April 8, FAW-FINDREAMS New Energy Technology Co., Ltd. ("FAW-FINDREAMS"), the joint venture between FAW Group and BYD's Findreams Battery, officially initiated the volume production of the PA75 power battery project, according to the company's WeChat post.

The battery under the PA75 project is touted as the first rechargeable, swappable, and upgradeable battery riding on Hongqi brand's HME platform. The official statement declared the mass production of the PA75 project as a milestone for GAW Group's Hongqi brand.

According to public information, FAW-FINDREAMS' power battery project is located in the Changchun Automobile Industry Development Zone. With its groundbreaking conducted in 2022, the project involves a total investment of 13.5 billion yuan and features an annual production capacity of 45GWh. Upon full operation, it will supply BYD's Blade batteries for nearly 600,000 vehicles, and is expected to generate an annual output value of 20 billion yuan.

This project utilizes BYD's Blade battery technology combined with a highly integrated module-less design, addressing the challenges of safety, high range, and longevity in power batteries. The first batch of products will be equipped in Hongqi's new all-electric vehicles. Additionally, the first phase of FAW-FINDREAMS' new energy power battery project officially went into operation in February this year.

Furthermore, it was previously reported that in 2024, Hongqi plans to launch about 16 new models, including 4 battery electric vehicle models, covering light-duty buses, SUVs, sedans, and MPVs.