The Indonesian government is offering a slew of tax holidays, incentives and access to battery raw materials to convince the carmaker to set up there rather than expanding in a neighboring country like Thailand, the person said.īYD didn’t immediately respond to a request for comment on Indonesia. Talks between BYD and Indonesia over a potential investment in an EV factory in the country are ongoing, according to a person familiar with the matter who asked not to be named as the discussions are private. BYD representatives scoured the Philippines for possible factory sites during a visit late last year and the company may decide on the site during the second quarter, said Rodolfo, who also heads the Board of Investments.īYD, which is already set to build its first EV production facility in Southeast Asia in Thailand, is still exploring whether the new factory will be a full-blown assembly plant or a final-assembly facility with car parts shipped in from overseas, said Lanie Dormiendo, director for the Philippines’ International Investments Promotion Service.Ī spokesperson for Shenzhen-based BYD said the company doesn’t have “any relevant information to disclose.” The Chinese auto giant is in an “advanced stage of discussions” with the Philippines, the Southeast Asian nation’s Trade Undersecretary Ceferino Rodolfo said in an interview on Wednesday. Past performance is no guarantee of future results.(Bloomberg) - The Philippines, Vietnam and Indonesia are competing to host an electric-vehicle assembly plant for BYD Co., the world’s second-largest maker of EVs, according to a top Philippine trade and investment official. The information contained in this article should not be construed as personalized or individualized investment advice. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a stock. It has remained a market leader since then with more than 4GWh delivered in the U.S and an additional 14GWh confirmed order to be delivered in 20.ĭisclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. At 2.6 MWh per unit, the Cube Pro utilizes a liquid-cooled battery system within its enclosure allowing for an 80% increase in energy density over previous generations.īYD has been committed to the North America Energy Storage market for almost a decade, with the first MW-scale project deployed in the U.S. The BYD Cube Pro is the latest generation energy storage solution designed for larger utility-scale projects. Our ability to work with key players such as NV Energy and BYD will accelerate the delivery of one of the largest BESS in Nevada, which is designed to store and dispatch excess renewable energy to help meet the high demand during Nevada’s peak load hours.” “This collaboration proves the quality and flexibility of our services. “Energy Vault is excited to partner with NV Energy and BYD to integrate and deliver, on a turn-key basis, a mission critical BESS that will support Nevada’s largest electric provider in achieving its goal of net zero emissions by 2050,” said Omar Aoun, Vice President of Sales, North America at Energy Vault. “This effort will be beneficial to residents of the Las Vegas region, and the entire state of Nevada.” “We are pleased to be involved in this significant project,” BYD Senior Director of Business Development Michael Liu said. The BYD Cube Pro BESS will be charged daily and is designed to send stored renewable energy to the grid during peak consumption hours, helping meet high demand. The energy storage system is designed to store and dispatch excess renewable energy, including wind and solar power. NV Energy awarded the project to Energy Vault, and expects to begin commercial operation by the end of 2023. Berkshire Hathaway-backed BYD will construct a battery energy storage project for Las Vegas.īYD announced recently that a 543 MWh Cube Pro liquid-cooled Battery Energy Storage System (BESS), integrated by Energy Vault, will be deployed by NV Energy outside of Las Vegas with construction on the project beginning in the second quarter of 2023.
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