BYD Co, the Chinese electric-vehicle (EV) maker backed by Warren Buffett, will equip all of its electric models from now on with batteries the company bills as safer than others in the burgeoning industry.
The Blade battery that BYD first announced in March 2020 will address what chairman Wang Chuanfu believes is the biggest enemy undermining development of the EV industry: spontaneous ignition.
The name for the Blade battery refers to its flatter and longer shape. BYD has said it is designed to improve structural support and space utilisation, increase energy density and reduce cost.
Battery safety has been an issue standing in the way of quicker adoption of EVs. Hyundai Motor, General Motors, Ford Motor and BMW all announced problems with their plug-in hybrid and fully electric models all in the span of just a few days late last year.
Chinese regulators also recently summoned Tesla representatives over quality and safety issues including battery fires.
"Makers of almost all car brands you can think of are in cooperation talks" with BYD's FinDreams unit, which produces the Blade battery, Mr Wang said on Wednesday.
The company specifically mentioned China FAW Group's Red Flag as a client.
Mr Wang also said that as a result of BYD's development of semiconductors years ago, the company is almost immune from the chip shortage that has affected carmakers around the world.
The automaker announced it is kicking off sales of four new Blade-equipped electric cars priced from 99,800 yuan (S$20,420) to 314,800 yuan. BLOOMBERG