Recently, Wang Chuanfu, chairman and president of BYD, and his party went to the R&D Institute of FAW Group to conduct research, and Xu Liuping, chairman of Hongqi, personally received and introduced the development history of Hongqi and showed Hongqi's new top supercar S9. At present, the power battery project of the joint venture between China FAW and BYD has officially started construction in Changchun City, Jilin Province, with a total investment of 13.5 billion yuan and a total production capacity of 45GWh, which can meet the supporting needs of 1 million electric vehicles.
It is reported that in addition to BYD and FAW, the most direct beneficiary of the power battery project is FAW Hongqi. Hongqi's model E-QM5 is the use of BYD's power battery subsidiary Fordy lithium iron phosphate battery, BYD and Hongqi joint production of battery production gradually increased, will also drive the Hongqi under the new energy model production gradually increased, the future BYD and FAW will work together to develop higher power, efficiency of the battery, which will also bring a major role in the follow-up development of Hongqi.