BYD's FinDreams Secures Role In Tesla's Shanghai Factory, Targeting Over 20% Market Share: Report
Portfolio Pulse from Nabaparna Bhattacharya
BYD's battery unit, FinDreams, will start supplying cells to Tesla's energy storage division in China from Q1 next year. FinDreams is expected to supply over 20% of the cells for Tesla's Shanghai Megafactory, which has an annual capacity of 40 GWh.
June 05, 2024 | 3:03 pm
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BYD's FinDreams will supply over 20% of the cells for Tesla's Shanghai Megafactory, potentially generating an annual order value of approximately $480 million.
Securing a significant supply role for Tesla's Shanghai Megafactory will likely boost BYD's revenue and market presence in the energy storage sector.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
BYD's FinDreams will supply over 20% of the cells for Tesla's Shanghai Megafactory, potentially generating an annual order value of approximately $480 million.
Securing a significant supply role for Tesla's Shanghai Megafactory will likely boost BYD's revenue and market presence in the energy storage sector.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Tesla's Shanghai Megafactory will receive over 20% of its energy storage cells from BYD's FinDreams starting Q1 next year, enhancing its energy storage capabilities.
The partnership with BYD's FinDreams will significantly enhance Tesla's energy storage capabilities in China, potentially boosting its revenue and market share in the energy storage sector.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100