FAW-FinDreams, a BYD-FAW joint venture company focused on electric vehicle batteries, has commenced production operations and is scheduled to supply battery packs for EVs positioned under FAW’s Hongqi brand, according to a news report published by CnEVPost on Feb. 2.
The JV battery plant is located in Changchun, Jilin, in northeast China, which is also FAW's headquarters. The batteries at the said factory went into production on Feb. 2, the report said, citing a statement by FAW-FinDreams.
The FAW-FinDreams manufacturing facility, which is spread across an area of 370,000 square meters, has a total planned capacity of 45 GWh, with an initial capacity of 15 GWh, utilizing BYD's signature blade battery technology.
Citing the company website, the report mentioned that the total investment in the project is estimated to be 18 billion yuan (about $2.5 billion). When fully operational, the plant will be able to produce blade batteries for nearly 600,000 EVs, it added.
Further, citing the company, the report said that the battery packs produced at the JV plant will utilize a moduleless, highly integrated design solution that balances battery safety, driving range and long shelf life.
Notably, FAW-FinDreams was established in January 2022, with BYD’s FinDreams holding 51% and FAW with 49%. The construction of the JV battery plant officially began in February 2022.