Chinese electric vehicle maker BYD and Taizhou's Xianju county reach the agreement to inaugurate a battery factory in the county on April 3. [Photo/taizhou.com.cn]

Chinese electric vehicle maker BYD will inaugurate a battery factory in Xianju county, Taizhou, East China's Zhejiang province, local media reported.

According to the agreement reached by BYD and the Xianju government via a video link on April 3, the project will produce BYD's blade battery, which the company's claims to be one of the world's safest batteries.

BYD is mainly engaged in industries related to electronics, automobiles, new energy and rail transit. The company currently commands about 11 percent of the global market share of new energy vehicles, and is the second largest enterprise in China in terms of power battery installed capacity.

The Taizhou-BYD partnership is highly complementary and in line with the city's development path, according to Wu Xiaodong, acting mayor of Taizhou.

Taizhou excels in the development of sectors including automobile and parts, while BYD is a leader in automobile especially new energy vehicles, Wu explained.

He also expressed hope that two sides will give full play to their respective advantages and expand cooperation in the acquisition, storage and application of new energy, power semiconductor, consumer electronics and more.

According to Wang Chuanfu, chairman of BYD, the new energy vehicle sector has been undergoing "unimaginable" changes this year and BYD has been focusing on pure electric and plug-in hybrids in the automobile sector.

He also pledged that the company will contribute to efforts to upgrade the city's manufacturing industry chain.