The joint venture named Huaihai FinDreams Sodium Battery Technology, based in Xuzhou in the eastern Chinese province of Jiangsu, is 51 per cent controlled by BYD’s battery division FinDreams, with the remaining 49 per cent held by Huaihai. The joint venture, which has a seed capital of 500 million yuan (equivalent to around 64 million euros), will manufacture and sell batteries as well as recycle and utilise used batteries.
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The joint venture named Huaihai FinDreams Sodium Battery Technology, based in Xuzhou in the eastern Chinese province of Jiangsu, is 51 per cent controlled by BYD’s battery division FinDreams, with the remaining 49 per cent held by Huaihai. The joint venture, which has a seed capital of 500 million yuan (equivalent to around 64 million euros), will manufacture and sell batteries as well as recycle and utilise used batteries.