This year, BYD crazy “sea”, one after another into Europe, Japan and another traditional automotive powerhouse, BYD also successively layout South America, the Middle East, Southeast Asia and other markets, and also in the local investment in the construction of factories.
According to foreign media reports, BYD has signed a memorandum of understanding to build three new factories in the state of Bahia with an investment of 3 billion reais and about 583 million US dollars.
According to the Bahia state government (northeast), BYD will build new factories in the region, one to manufacture electric buses and chassis for electric trucks; one to process iron phosphate and lithium; and one to manufacture pure electric vehicles and plug-in hybrids.
Construction is expected to begin in June 2023, with the first two plants to begin operations in October 2024, including a chemical plant and bus and truck plants that will target the northeastern Brazilian market, and the other to be completed in December 2024 and operational from January 2025.
It has not yet been determined whether the blade batteries will be produced directly locally in Brazil; the chemical plant, which will process iron phosphate and lithium, will likely only produce the raw materials for the batteries, which will then be shipped to China for production.
As part of the agreement, the Bahia government will provide tax incentives to BYD through December 2032, and the company will commit to hiring local construction companies and suppliers. If the plan goes well, BYD will hire and train 1,200 local workers.
BYD currently has three plants in Brazil, with the first bus chassis assembly plant inaugurated in 2016 in Campinas, São Paulo state.
In 2017, BYD opened a photovoltaic module factory in Campinas and will start operating its first battery factory in Manaus, the capital of Amazonia, in 2020.
