China's BYD ramps up 'leccycar battery production in challenge to Tesla
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