Weichai-BYD joint venture’s new energy power industry park has officially started construction.

Weichai-BYD Joint Venture Launches Construction of State-of-the-Art New Energy Power Industry Park

PhoneAuto News: On November 3rd, PhoneAuto noticed that there is significant progress in the strategic cooperation between Weichai and BYD in Shandong’s key equipment manufacturing industry. The construction of the Weichai (Yantai) New Energy Power Industry Park, a project jointly invested by both parties, has officially begun. The goal is to create a research and manufacturing base for the entire industry chain, promoting the research and production of core components such as batteries, motors, electronic controls, and electric drive systems for new energy commercial vehicles.

The project has a total investment of up to 17 billion yuan and covers an area of ​​approximately 1,700 acres, divided into three phases of construction. After the first phase of the project reaches production, it is expected to generate additional revenue of about 40 billion yuan. The construction of this project will not only strongly promote the development of new energy vehicles in Shandong Province but also have a profound impact on the strategic layout of Weichai and BYD.

The cooperation between Weichai and BYD aims to create a new energy power industry park that integrates research, manufacturing, and sales. The battery manufacturing base will have an annual battery capacity of 50 GWh, while the core components manufacturing base for new energy vehicles will have the capability to produce 500,000 flat wire motors, 400,000 electronic controls, and 50,000 electric drive systems per year.

The construction of this collaboration project fully reflects the profound strength and foresight of Weichai and BYD in the field of new energy vehicles. With the strong support and encouragement from the country for the new energy vehicle industry, the construction of this project will further drive the rapid development of China’s new energy vehicle industry.

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Through this strong alliance, the strategic cooperation between Weichai and BYD will inject new vitality into the future development of China’s new energy vehicle industry. The construction of this new energy power industry park will not only enhance the core competitiveness of the two companies in the field of new energy vehicles but also bring significant economic benefits to Shandong Province and create more employment opportunities for society.

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