Peru’s President, Dina Boluarte, invited Chinese electric vehicle manufacturer BYD to establish an assembly plant in the country, offering zero tariffs to stimulate local investment.
She urged the brand to consider establishing a car assembly plant on Peru’s Pacific coast.
The proposal is part of a broader strategy to enhance industrial growth and capitalize on emerging infrastructure to facilitate trade between Peru and China.
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A Land of Opportunity
During a meeting with BYD executives, Boluarte highlighted the strategic advantages of establishing operations in Peru, particularly with the Chancay port being built by Cosco Shipping Ports.
This huge port project, which will be inaugurated in November, is expected to significantly increase efficiency and commercial capacity, presenting an ideal opportunity for BYD to expand its presence in South America.
The president highlighted the importance of the strategic location of BYD’s potential assembly plant. She mentioned the construction of an industrial park in Chancay or Arequipa, which is approximately 620 miles south along the Pacific coast.
Both locations offer advantages for establishing a strong vehicle assembly industry.
The choice of Chancay is particularly attractive because of its proximity to the new port, which will facilitate easy access to international markets and streamline logistics for export vehicles.
China has become the largest investor in Peru, particularly in the mining sector. As the main buyer of Peruvian copper, China plays a crucial role in Peru’s economic outlook.
