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Chinese automaker and battery producer BYD has started construction of a new battery plant in Wenzhou, in east China’s Zhejiang province, raising its bet on the country’s electrification drive.
BYD's new facility will be able to churn out 20 gigawatt-hours (GWh) of batteries annually when construction is completed – enough to power about 200,000 electric vehicles.
The first phase of the factory, with planned investment of 6.5 billion yuan ($936 million), will employ 6,000 . . .
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