BYD intends to make spin-off battery unit to be listed on stock exchange
Shanghai (Gasgoo)- BYD intends to spin off its battery and photovoltaic unit and further promote the separated unit to be listed on a stock exchange, aiming to rival with CATL and trying to seize the to-be-lost strategic opportunities in battery industry. Currently, BYD had contacted with Great Wall Motor, BAIC and GAC in terms of power battery area.
Once BYD successfully spins off its battery unit and enable it be listed on a stock exchange, it is considered that BYD will commence a new business with a total market value of RMB 100 billion. Moreover, the battery business will help improve BYD's valuation.
Currently, BYD boasts world-leading battery production capacity. It is expected to reach a production capacity of 28GWh in 2018. Wang Chuanfu, president of BYD showed his great confidence in 2018. He believed that BYD will revive its sales growth in 2018. "We will actively renovate operating strategy, open up supplying and marketing system, improve marketization for all products and build an effective rivalry culture to improve operating efficiency and comprehensive competitiveness of all businesses." Wang Chuanfu added.
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