As everyone knows, Asian battery suppliers powers up the World’s EVs. This no doubt includes some of the biggest companies in China like CATL and BYD. For example, BYD’s blade battery applied by various carmakers like Toyota and CATL remains the world’s largest battery manufacturer for five consecutive years, indicating the importance of the Asian battery industry.
Since 2021 July, BYD’s battery subsidiary FinDreams Battery began collaboration with FAW, planning to produce special batteries for 1 million NEVs. According to data provider Tianyancha, FinDreams and FAW formed a joint venture with an 1 billion RMB registered capital at the end of January. The two held 51 percent and 49 percent of the shares, respectively.
FAW FinDreams New Energy Technology Co is named after FAW executive Li Hongjian, who serves as chairman, and He Long, chairman of FinDreams. The project has a total investment of RMB 13.5 billion and covers an area of 800,000 square meters. The press release shows a total design capacity of 45 GWh and an output value of more than RMB 20 billion.
The development, production, and sale of power batteries and battery systems and the development, production, and sale of energy storage batteries and energy storage systems are all part of the FAW FinDreams New Energy Technology Co’s business scope. FAW FinDreams wants to establish a strategic base for NEV power batteries in northeast China and to speed up the adoption of green technologies in the region. Through this cooperation, perhaps BYD will have the opportunity to impact CATL’s championship in the battery supply chain in the future.