UFO Energy Official Blog

Warren Buffett-backed Chinese car manufacturer BYD is aiming to compete with Tesla Motors by tripling its production of batteries for electric cars over the next three years. BYD will produce an additional six gigawatt-hours' worth of batteries per year over the next three years, said company spokesperson Matthew Jurjevich, adding that with the support of consumer demand these production increases could be continued beyond the three years of increase scheduled. If this rate of production increase continues to 2020, BYD would be set up to challenge Tesla Motors' $5bn Gigafactory in Nevada, which is projected to achieve an annual production capacity of 35GWh when it begins operating in 2016. Rumours of difficulties in the development of the Tesla Gigafactory have been refuted by CEO Elon Musk. The company is, however, downsizing its Chinese operations following a bungled incursion into the market which has left its distribution centres overstocked. Tesla does not currently pro

  China 's largest maker of electric cars - BYD Auto Company on December 30 in the southern city of Shenzhen, began construction of its second major battery factory .        The plant is expected to be opened before the end of 2015 . BYD said the plant will have an annual output of up to 8 million kWh capacity lithium iron phosphate .      According to the company , the plant's annual production of battery cells for 25,000 vehicles available K9 electric buses or 600,000 vehicles Qin Plug-in hybrid .      BYD existing battery factories in Shenzhen , the annual capacity of one million kilowatts up to 1.6 hours of battery life .        BYD Auto Company partially owned by US billionaire Warren - Warren Buffett all , in the first 11 months of 2014 , the company sold 2,432 cars in China electric vehicles and 19,928 vehicles Plug-in hybrid .      The company in California have a K9 bus assembly plant