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BRAZIL, 6 July 2023: Chinese electric vehicle maker BYD has announced plans to invest USD 3bn in a new manufacturing complex in Brazil. The complex, which will be located in the state of Bahia, will produce electric buses, trucks, and cars.
The investment is a major vote of confidence in the Brazilian automotive industry and the country’s growing commitment to sustainable transportation. BYD’s decision to locate its first manufacturing facility in Brazil is also a significant boost to the local economy. The complex is expected to create more than 5,000 jobs during construction and operation.
In addition to manufacturing vehicles, the complex will also produce lithium and iron phosphate, which are key components in electric batteries. This will help to reduce Brazil’s dependence on imported battery materials and create a new source of revenue for the country.
The announcement of BYD’s investment is a major milestone for the Brazilian automotive industry and a sign of the country’s growing importance in the global electric vehicle market. The complex is expected to be operational by the second half of 2024, and it will help to make Brazil a major player in the global transition to sustainable transportation.
BYD is a multinational high-tech company that began as a rechargeable battery maker and has evolved into a diverse business spanning automobiles, rail transit, new energy, and electronics. Committed to providing zero-emission energy solutions, BYD is a leader in the development of new energy vehicles and has achieved significant technological advancements. As the world’s first automaker to halt production of fossil-fueled vehicles, BYD Auto remains at the forefront of the industry, consistently dominating new energy passenger vehicle sales in China for 9 consecutive years.
