State-owned automaker FAW and BYD’s battery unit FinDreams officially commenced the production of their joint battery project on February 2, Chinese news platform Xinhua reports.
Project details
FAW-FinDreams targets a total battery production capacity of 45 GWh, sufficient to support 600,000 Hongqi electric vehicles with Blade Batteries. However, Phase I of the project that went into operation on Friday only started with 15 GWh.
The Chinese partners erected the joint battery project in Changchun Automobile Economic and Technological Development Zone in Jilin, which is also home to FAW’s headquarters. It boasts 370,000 square meters of total land area and 340,000 square meters of building area.
FAW-FinDreams’s investment in the project totals about RMB 18 billion ($2.5 billion).
Battery pack design
According to the report, FAW-FinDream’s battery products will employ a moduleless, highly integrated design technology.
The advanced Blade Battery technology promises to enable power battery safety, range, and extended life cycle. It primarily aims to focus on efficiency without compromising module flexibility.
As mentioned, the batteries produced by the joint battery project will support Hongqi’s upcoming battery-electric vehicle models.
Timeline
FAW, BYD’s FinDreams, and the Changchun municipal government officially inked an investment and cooperation deal for the joint power battery venture in July 2021.
On January 15, 2022, FAW and BYD founded FAW-FinDreams in China. FinDreams took a 51% stake in the joint venture, while FAW holds 49%.
The Chinese partners started the project construction on February 26, 2022. On July 21 last year, FAW-FinDreams rolled out the first-ever first battery pack from its production line.
FAW-FinDreams is the first to operate an NEV battery in northeast China, making the partnership a pioneer in promoting the shift to clean mobility in the area. The project will leverage FAW and BYD’s resources and expertise to accelerate the reduction of carbon emissions in the country’s automotive industry.
