The Traderszone Network

Published in TZ Latest News 13 March, 2015 by The TZ Newswire Staff

China’s BYD takes aim at Tesla in battery factory race

Chinese automaker BYD (1211.HK) Co Ltd , backed by Warren Buffett’s Berkshire Hathaway Inc (BRKa.N), aims to triple its production of batteries as it takes on Tesla Motors (TSLA.O) in the race to supply electric vehicles and boost energy storage. Shenzhen-based BYD plans to add 6 gigawatt hours of global production for batteries in each of the next three years, and hopes to keep adding at that pace afterwards if demand is solid, Matthew Jurjevich, a spokesman for the company, said on Friday.