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In keeping with Chinese language endeavor knowledge platform Qichacha, FAW Fudi New Power Era Co., Ltd. used to be established on January fifteenth with a registered capital of one billion yuan ($157 million). The endeavor is a newly established three way partnership between auto makers BYD and FAW.
The JV is owned via Fudi Commercial Co., Ltd., a wholly-owned subsidiary of BYD, and FAW Fairness Funding (Tianjin) Co., Ltd., a wholly-owned subsidiary of FAW Staff. They cling 51% and 49% of the JV’s stocks respectively.
FAW Fudi is principally engaged within the manufacture of recent power batteries, modules and different core elements for smartphones. Its manufacturing unit shall be inbuilt 3 levels to reach an annual energy battery capability of 45GWh, which can provide protected and long-lasting blade batteries for over 1 million automobiles.
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FAW used to be certainly one of BYD’s earliest shoppers. In June remaining yr, FAW’s auto emblem Hongqi introduced that its natural electrical medium-sized automobile, E-QM5, shall be formally introduced and shall be supplied with a ferrous lithium phosphate blade battery equipped via BYD. In July remaining yr, the Changchun Municipal Executive, FAW and BYD signed cooperation agreements for a brand new power energy battery undertaking.