BYD plans to build a global R&D center and energy storage industrial park project in Shenzhen

BYD plans to invest 22 billion yuan to build a global R&D center and energy storage industrial park project in Shenzhen. After the project reaches full production, it will add 20GWh of energy storage system capacity. In addition, BYD also invested in a number of energy storage industry chain companies including Fusi New Materials, Zhongbei Energy, and Carbon One New Energy in 2023.