The Chinese technology and clean energy giant, this is how BYD can be defined, a company that is betting heavily on the Brazilian automotive market after deciding to increase its initial investment in the nation.
Thus, an additional investment of R$ 2 billion raises its total commitment to R$ 5.5 billion through an announcement made last Monday 18th in Salvador, which represents an increase of 83% compared to the initially planned investment.
Thus, BYD sees Brazil as a key strategic market in its global expansion, as increasing its investment reaffirms the company’s confidence in the South American country’s potential to adopt sustainable solutions and clean technologies.
Related content: BYD signs agreement with Raízen Power to deploy 600 fast chargers in Brazil
BYD’s Impact in Brazil
BYD‘s additional investment in Brazil involves a financial commitment, accompanied by the creation of job opportunities and boosting infrastructure for electric mobility and renewable energy.
“Over the past 30 years, there has been little investment in the automotive sector in Brazil, but the arrival of BYD shook up the market and now several other automakers are announcing long-term investments,” comments Stella Li, CEO of BYD Americas.
“Importantly, our R5.5 billion will be invested in a short space of time. We want to accelerate the work so that we can soon have the first cars produced in Bahia,” she continued.
Finally, the governor of Bahia, Jerônimo Rodrigues, expressed his satisfaction with BYD‘s strategic approach to its arrival in Brazil, highlighting the effectiveness of its initiatives, emphasizing the importance of cooperation between the state government and the company to expedite progress on various fronts.
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