BYD Auto to expand into solar energy field

Shanghai, November 20 (Gasgoo.com) China's electric car manufacturer BYD Auto has announced its plan to march into the solar energy field, reported China Securities Journal today.

Xu An, the manager of BYD’s public relations department, said that apart from the information technology and auto business, the new energy will be the third market for BYD to enter. BYD has also revealed that the plan includes the solar power station, energy storage and power plants and new energy vehicles.

"In the future, solar energy may become one of the driving forces of BYD’s electric vehicles," Xu added.

According to the plan, BYD will transplant the existing 10 billion-yuan-scaled pure buttery industry to two 100 billion-yuan-scaled industries. In addition, BYD has showed its ambition to enter a much wider new energy market in the future, with the basis of its mobile phone parts and automotive manufactures.

In terms of the sales of traditional vehicles, BYD has seen the most growth among the domestic auto brands. So far BYD has exceeded the whole year sales plan of 400,000 vehicles, with 330,000 units sold in the first ten months of this year, up 170% from a year earlier.

Reportedly, BYD has already established 11 industrial bases all over China, including Shenzhen, Beijing, Shanghai, Changsha, and Xian. BYD is expected to reach an annual production capacity of one million vehicles in 2011.