News from Huaihai Holdings Group shows that on November 18th, Song Lewei, the Secretary of the XuZhou Municipal Committee of Jiangsu Province, and Wang Chuanfu, the Chairman and President of BYD Co., Ltd., witnessed the signing of a 10-billion-dollar sodium-ion battery project between Huaihai Holdings Group and Fudi Battery. The project is planned to have a total investment of 10 billion yuan, with an annual production capacity of 30GWh, and it aims to become the world's largest supporting supplier of sodium battery systems for micro-cars.

Wang Chuanfu stated that the rapid development of the new energy vehicle industry provides opportunities for the continuous iteration of battery technology. BYD is willing to seize the new opportunities in the new energy vehicle industry with XuZhou, actively take the lead in the development of the battery industry, and help XuZhou accelerate the construction of the new energy vehicle industry chain. This signing is the second cooperation between BYD and XuZhou enterprises. Previously, in November 2022, they jointly invested 10 billion yuan with XCMG Group to build a new energy power battery production base project.