BYD sets up a new battery company to deal with waste battery recycling and sales

Published: Apr 14, 2022 15:27

Save

[BYD set up a new battery company to manage waste battery recycling and sales] following the establishment of automobile and charging piles and other sales companies in Fuzhou, BYD established a new battery company in Taizhou-Taizhou Fudi Battery Co., Ltd., with a registered capital of 50 million yuan. The company is indirectly wholly owned by BYD Co., Ltd. The company's business scope includes battery manufacturing and sales, new energy vehicle waste power battery recycling and echelon utilization, as well as new material technology research and development.

SMM April 14: after setting up sales companies such as cars and charging piles in Fuzhou, BYD set up a new battery company in Taizhou-Taizhou Fudi Battery Co., Ltd., with a registered capital of 50 million yuan. The company is indirectly wholly owned by BYD Co., Ltd.

The company's business scope includes battery manufacturing and sales, new energy vehicle waste power battery recycling and echelon utilization, as well as new material technology research and development.

On April 11, Fuzhou Zhuoyu Automobile sales Co., Ltd., which is indirectly wholly owned by BYD Automotive Industry Co., Ltd., was established with a registered capital of 2 million. The scope of business includes new car sales, new energy vehicle electrical accessories sales and charging pile sales.

According to the latest monthly installed capacity of power batteries in March released by the China Automotive Power Battery Industry Innovation Alliance, BYD ranks second among domestic battery companies, with 4.12GWh installed, accounting for 19.24% of the market. From January to March, BYD accumulated 10.41GWh in terms of domestic power battery installation, accounting for 20.31% of the market.

Some media said that the continued hot sale of BYD new energy vehicles is the guarantee for the steady growth of its power battery installation. According to car sales in March, BYD's new car sales successfully exceeded 100000 in March, reaching 104878 units, an increase of 156.95% over the same period last year. And it is worth mentioning that while announcing sales, BYD announced that it would stop production of fuel-fueled vehicles from March this year and focus on EV pure electric and DM plug-in hybrid vehicles. According to production and sales figures released by BYD, its fuel vehicle sales were completely suspended in March. BYD has officially become the first brand in China to sell "100000 +" new energy passenger cars.

Car battery

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

[SMM Separator Weekly Review] Supply-demand balance remains tight, coated products poised for price hikes

[SMM Analysis] Separator Market Prices Remain Stable Overall

10 hours ago

Cost Support Weakens as Cobalt Prices Fall Across the Board

10 hours ago

11 hours ago

Core Lithium Resumes Spodumene Production at Finniss, Boosting Capacity by 20% After Two-Year Break

On September 8th, Core Lithium has produced first spodumene concentrate from the recommissioned Finniss processing plant in the Northern Territory, marking a milestone in the company's staged restart of the operation. Core Lithium restarted mining at the Grants openpit in May and recommissioned the crushing circuit in August to build sufficient crushed ore stockpiles for processing. First concentrate was achieved within six months of the company's final investment decision to proceed with the Finniss restart. The company has undertaken targeted upgrades to debottleneck the processing circuit and optimise recoveries, including screen refurbishments, rolls crusher enhancements and improvements to the ferrosilicon distribution system. Crushing and dense media separation operations have been consolidated into a single control room. These upgrades are expected to increase plant throughput capacity by about 20% to 1.2 million t/y. Finniss began initial spodumene concentrate production in February 2023 before being placed on care and maintenance in mid-2024 amid a downturn in lithium prices. The project has since been repositioned as a lower-cost, long-life operation with a 20-year mine life and average production of 214,000 t/y. Finniss is the only major hard-rock lithium mine operating outside of Western Australia.

11 hours ago