Automotive News

Shanghai, July 12 (Gasgoo.com) China's electric automaker BYD Auto is now planning to enter the country's home appliance market, with a new product to launch in the second half of this year. Presently, the automaker has already set up a special team for the new project, BYD said last week.

Reportedly, BYD's home-appliance department is still acting in the shroud of secrecy, without any public announcement that the department has been established lately and some preparatory work has been carried out. However, the move has not yet been confirmed by BYD.

Having achieved great success in the IT industry and the auto industry, especially the latter, BYD is set to move forward, with a wealth of experience and adequate technology, to the home appliance industry.

Unlike the other car manufacturers, BYD had been engaged in the IT industry for years before it stepped into the auto industry, so it is capable of producing and supplying most of the auto parts on its own, ranging from molds to navigator-touch screen. It largely reduces BYD's production costs.

Under BYD's plan, it will establish four kingdoms: IT, automobile, new energy and home appliance. Therefore, in addition to the home appliance industry, it has dedicated a lot to the new energy field in the past.

At the end of last month, BYD started construction of its second solar battery production line in Shangluo city, northern China's Shaanxi province. In the next five years, BYD will produce 5,000 MW of batteries annually in the base, and with a total investment of $3.3 billion, will make it the largest solar battery base in China.