BEIJING (Reuters) – Chinese electric vehicle manufacturer BYD has signed an agreement to build a factory for core parts of new energy vehicles with total investment of 6.5 billion yuan ($894.2 million), state-backed Securities Times said on Monday.
The project will further improve manufacturing capacity of BYD’s factory in the southern city of Shenzhen, the newspaper cited local television as saying.
($1 = 7.2695 Chinese yuan renminbi)
(Reporting by Ella Cao and Ryan Woo; Editing by David Goodman)
