The investment in Changzhou will amount to around $1.5 billion
According to Xinhua, the new idea is to set up an industrial base for cars and key components (sounds like a continuation of vertical integration) in Changzhou. The strategic cooperation agreement between the company and the local government was already signed.
Through an investment of 10 billion yuan (about $1.5 billion), BYD will build a production plant for 400,000 plug-in electric cars annually.
It's expected that the revenue stream at full production will reach 50 billion yuan ($7.5 billion) per year.
At a later step, the factory will be accompanied by athe R&D center.
Other BYD's car plants are in Shenzhen, Xi'an and Changsha.