BYD plans to amp up its investment in its new electric-vehicle (EV) plant in Brazil by about 83.3% to R$ 5.5 billion (USD 1.1 billion), and to build five residential buildings to accommodate 4,230 employees.
The announcement was made at a meeting attended by the governor of Bahia, Jerônimo Rodrigues; the CEO for the Americas and global executive vice president of the company, Stella Li; the president of BYD in Brazil, Tyler Li; and the special adviser of the Chinese brand, Alexandre Baldy.
“Our R$ 5.5 billion will be invested in a short time. We want to speed up the works to soon have the first cars produced in Bahia”, said Stella Li. “In the last 30 years, little has been invested in the automotive sector in Brazil. But the arrival of BYD has moved the market and now several other car manufacturers are announcing long-term investments”, she added.
BYD to Create 10,000 Jobs in New Factory in Brazilian State of Bahia
The management of BYD also announced the construction of five residential buildings for the workers of the factory, on an area of approximately 81,000 m2 and will have a capacity to accommodate 4,230 people.
According to the company, by the end of 2024 the first BYD vehicles will begin to be assembled in the complex. The complete production of the cars in Bahia is expected to begin between 2024 and 2025 and will have installed capacity of 150 thousand vehicles per year in the first phase of deployment, and can reach 300 thousand cars in the second phase.
“The way BYD is arriving in Brazil has been very productive. As far as possible, we’re earning time. We have a project that goes from the port, both for import and export, as well as roads and logistical infrastructure of the entire industrial pole of Camaçari”, saidd Governor Jerônimo Rodrigues. “We are serving the interests of the State Government and BYD for a rapid progress of the work”, he added.
China´s BYD to Build USD 624 million Factory in Brazil, First Outside China
BYD Global Vice President and President of the Americas, Li Ke, said recently that electrification is playing out in Latin America and that sales in Brazil are executing well, and that both the Brazilian and Mexican plants will serve Latin America.
She added that the Mexican plant, with an initial capacity of 150,000 vehicles per year, will focus on sedan production, and that discussions on the location of the Mexican plant are still underway, with a final decision believed to be made by the end of this year.
