Chinese automaker BYD to build a new electric vehicle complex in Brazil - PingWe...
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Chinese automaker BYD to build a new electric vehicle complex in Brazil
Chinese automaker BYD to build a new electric vehicle complex in Brazil
7 hours ago
Chinese automaker BYD announced on Tuesday its plans to invest 3 billion reais ($620.17 million) in a new industrial complex in northeastern Brazil.
This complex, consisting of three plants, will mark BYD's first electric vehicle (EV) production base outside of Asia.
According to a statement by BYD, one of the plants will specialize in manufacturing chassis for electric trucks and buses. The second plant will focus on the production of hybrid and electric cars, and the third plant will process lithium and iron phosphate for the international market.
The complex will be constructed in the Camacari industrial park in Bahia, a northeastern state in Brazil, taking over the site formerly occupied by a Ford plant that ceased operations in 2021.
These facilities are projected to begin operations in mid-2024 and are expected to have an annual output target of between 150,000 and 300,000 vehicles.
Additionally, BYD expects this investment to attract local suppliers who can specialize in the production of electric and hybrid vehicles, and create more than 5,000 jobs as well.
BYD's plant will be the second facility in Brazil dedicated to the production of electric and hybrid vehicles. Two years ago, another Chinese EV maker, Great Wall Motor agreed to buy a Daimler plant in São Paulo with a commitment to invest 10 billion reais by 2032.
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