BYD is building a new lithium-ion battery plant in the eastern Chinese city of Wenzhou, which it aims to start operations in 2024 with an annual capacity of 20 gigawatt-hours (GWh) of batteries, state-owned media outlet Wenzhou Daily reported on Thursday. The Chinese manufacturer sold the equivalent of 43.6 gigawatt-hours (GWh) of batteries in the first nine months of this year, jumping 177% year-on-year with a 12.8% share of the global electric vehicle battery market, according to figures from industry tracker SNE Research. For now, the company mainly builds batteries for its own vehicles, and in June executives revealed plans to provide Tesla with batteries “very soon.” [Wenzhou Daily, in Chinese]