Chinese automaker BYD aims to be a major player in the battery business, adding 6 gigawatt-hours of global production in each of the next three years, company spokesman Matthew Jurjevich told ReutersÂ recently.
If it continues at that pace, BYDâ€™s capacity will be some 34 GWh of batteries by the beginning of 2020, putting it about even with Teslaâ€™s Gigafactory.
â€œWe have demonstrated that BYD is capable of adding 6 GWh every year with strong market demand,â€ said Jurjevich, adding that BYD will scale up manufacturing in the US as demand for its batteries increases.
According to Lux Research, BYD is currently the sixth-biggest global manufacturer of batteries for hybrid and plug-in vehicles. Itâ€™s also a factor in the stationary storage market, which is expected to grow to $1.5 billion by 2019 in the US alone, according to GTM Research. BYD plans to deploy 70 megawatt-hours of storage projects in the US this year, and has another 130 MWh on the table. Existing customers include Chevron and Duke Energy.
Most of BYDâ€™s current production is in China, but it built two manufacturing plants in Southern California in 2013 to produce electric buses and batteries, and it plans to open a major new factory in Brazil this year.