Chinese automotive firm BYD has recently announced its investment plans in a new industrial complex in Northeastern Brazil. The investment is estimated to be around 3 billion reals ($620 million), with the aim to boost local production to offer competitive prices.
The firm stated that the complex, made up of three plants, will be built in the Camacari industrial park in the northeastern state of Bahia, on land formerly occupied by a Ford plant that closed in 2021. The operation at the plants is expected to begin in mid-2024.
Dwelling on the details of the plants, the note said that one of the plants will be dedicated to the production of chassis for buses and electric trucks, while, the second plant will be focused on hybrid and electric cars, with an initial annual production estimated at 150,000 cars, while the third will process lithium and iron phosphate for the foreign market.It is expected to generate over 5,000 jobs,said the firm in its note