Shulou(Shulou.com)11/24 Report--

According to CTOnews.com news on November 3, since the beginning of this year, BYD has gone out to sea crazily, entering Europe, Japan, and other traditional automobile powers one after another. BYD has also successively expanded markets in South America, the Middle East, and Southeast Asia, and has to build factories there.

According to foreign media reports, BYD has signed a memorandum of understanding to invest 3 billion reais about 583 million US dollars to build three new factories in Bahia state.

According to the Bahia state government (north-east), BYD will build a new local factory, one for making electric buses and chassis for electric trucks, one for processing iron phosphate and lithium, and one for making pure electric vehicles and plug-in hybrid cars.

Work is expected to begin in June 2023, and the first two plants, including chemical plants and bus and truck factories, will begin operations in October 2024, with production aimed at the north-eastern Brazilian market, while the other will be completed in December 2024 and will be operational from January 2025.

It has not yet been determined whether blade batteries will be produced directly in Brazil, and the chemical plant responsible for processing iron phosphate and lithium may only produce raw materials for batteries and then ship them to China to produce batteries.

As part of the agreement, the Bahia government will provide tax breaks to BYD by December 2032, and the company will promise to hire local construction companies and suppliers. If the plan goes well, BYD will hire and train 1200 workers locally.

CTOnews.com learned that BYD currently has three factories in Brazil, of which the first bus chassis assembly plant was completed in Campinas, Sao Paulo state, in 2016.

BYD opened a photovoltaic module factory in Campinas in 2017 and began operating its first battery factory in Manaus, the capital of Amazon, in 2020.

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