BYD's battery unit FinDreams to develop batteries for 2-wheelers

FinDreams said it will offer safer, more reliable batteries for electric two-wheelers, after a recent deadly accident revived concerns about the safety of electric two-wheeler batteries. (Image credit: CnEVPost) BYD's (OTCMKTS: BYDDF) battery manufacturing unit FinDreams Battery said it will leverage its passenger car battery technology to develop safer two-wheeler batteries, after a recent fire killed more than a dozen people. FinDreams will apply its passenger car research results to the two-wheeler segment and increase its R&D investment in the two-wheeler industry, the company said in a statement today. The company will collaborate with various parties to develop safe batteries that can be placed indoors in buildings, FinDreams said. A fire broke out in a residential building in Nanjing, Jiangsu province, in the early hours of February 23, killing 15 people and injuring 44 others, local media outlet The Paper reported yesterday. Initial analysis showed that the accident was triggered by a fire in the building where e-bikes were parked, and the exact cause is being further investigated, the report said, citing a source from Nanjing fire authorities. Several Chinese cities have banned residents from keeping e-bikes indoors due to concerns about the risk of fire. While the exact cause of the accident in Nanjing requires further investigation, it is yet another reminder to focus on the fire safety of electric two-wheelers, FinDreams said in the statement today. As a mainstream means of transportation for daily travel, electric two-wheelers are convenient, but they also pose fire accident risks, FinDreams said. China reported 21,000 electric two-wheeler fires in 2023, up 17.4 percent compared to 2022. The figure was 18,000 in 2022, up 23.4 percent from 2021, FinDreams said, citing data from China's fire authorities. The increase in the number of fire accidents in electric two-wheelers reflects the importance of batteries in terms of safety management and usage norms, FinDreams said. After the tragedy in Nanjing, the FinDreams management and development teams held an emergency meeting to explore quality and safety solutions for two-wheelers, according to the company. FinDreams has been researching lithium-ion batteries since 1996 and has nearly 30 years of experience and technology accumulation, it said, adding that the decision is aimed at taking social responsibility to address the safety of electric two-wheelers. FinDreams will also improve safety norms for electric two-wheeler batteries to provide safer and reliable electric two-wheeler batteries to consumers, it said. BYD's battery unit FinDreams commits to carbon neutrality by 2045