GUANGZHOU, June 3 (Xinhua) -- China's new energy vehicle manufacturer BYD's battery gigafactory project settled in the southern Chinese city of Guangzhou Sunday.
The gigafactory will focus on the research and development, production and manufacturing of lithium polymer batteries for electric devices such as mobile phones, laptops and computers, according to BYD.
The new factory, with a total investment of 4 billion yuan (57.9 million U.S. dollars), will realize an annual output of 13 billion yuan after it goes into operation in 2020.
Construction on the project will begin in late June, said BYD.
BYD broke ground on its new battery factory for electric vehicles in southwest China's Chongqing in February. The power battery factory under construction is expected to become a major battery production base for new energy vehicles in the country.
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