BYD opens new battery factory, claims it will be ‘largest in the world’ = Possibly Cheaper EV batteries
BYD President and Chairman Wang Chuanfu said at the opening ceremony (via NDTV): Electrification is a done deal as several countries have announced a deadline for the sale of internal combustion engine cars to end. Electric vehicles are on the cusp of another boom, Wang Chuanfu previously said that he sees all new cars potentially being electric in China as soon as in 2030.
While Tesla's Gigafactory will likely surpass this Chinese one in the future what is emerging from this massive investment is:
1. EV's happening at this scale means the future for mass transportation will be battery driven (some specialist applications may use other propulsion still).
2. Scale like this means prices dropping ultimately through the law of Economics, so this will help drive EV costs down by the projected 2023 timeframe predictions.