Chinese automaker BYD on Tuesday said it will invest 3 billion reais ($620.17 million) in a new industrial complex in northeastern Brazil, as it aims to boost local production to offer more competitive prices.
on Tuesday said it will invest 3 billion reais in a new industrial complex in northeastern Brazil, as it aims to boost local production to offer more competitive prices.
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 Fordfrom the government to incentivize BYD to build a new electric car hub after Ford closed its plant in the state.One of the plants will be dedicated to production of chassis for buses and electric trucks, BYD said in a statement.
The second plant will be focused on hybrid and electric cars with an initial production estimated at 150,000 cars per year, while the third will process lithium and iron phosphate for the foreign market.Reporting by Patricia Vilas Boas; Writing by Carolina Pulice; Editing by Bill Berkrot
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