Xi’an-based automaker BYD is set to build three new factories in Brazil, with a total investment of 3 billion reais (about US$565 million).
According to the Government of the state of Bahia, two factories will produce chassis for buses, trucks and cars and the third will process lithium and iron phosphate, materials used in batteries, which will be exported to China.
Construction is expected to begin in June 2023, and the first two factories will start operating in October 2024, including the chemical plant and the bus and truck plant, whose production will target the northeast Brazilian market.
The factory dedicated to the production of automobile chassis will start operations in January 2025, according to BYD whose initials stand for Build Your Dream.
As part of the agreement, the Bahian government will grant tax incentives to BYD until December 2032, while the company will commit to hiring local construction companies and suppliers.
BYD has three factories in Brazil. The first, for bus chassis assembly, was inaugurated in Campinas, in the state of São Paulo, in 2016.
In 2017 it inaugurated a photovoltaic module factory in Campinas, in São Paulo estate, and in 2020 it began operations of its first battery factory, located in Manaus, the capital of Amazonas.
