{"id":14539,"date":"2022-11-14T08:12:05","date_gmt":"2022-11-14T13:12:05","guid":{"rendered":"https:\/\/latamobility.com\/?p=14539"},"modified":"2022-11-14T08:12:08","modified_gmt":"2022-11-14T13:12:08","slug":"byd-invests-over-500-million-to-build-electric-vehicle-factory-in-brazil","status":"publish","type":"post","link":"https:\/\/latamobility.com\/en\/byd-invests-over-500-million-to-build-electric-vehicle-factory-in-brazil\/","title":{"rendered":"BYD Invests Over $500 Million to Build Electric Vehicle Factory in Brazil"},"content":{"rendered":"\n<p>The Latin American market represents an important focus within the operations of <strong>BYD<\/strong>, a manufacturer that seeks to match Tesla in the electric vehicle market.<\/p>\n\n\n\n<p>A few days ago, the Asian automaker signed a protocol of intent with the government of Bahia, Brazil, which contemplates a significant investment of <strong>US$ 570 million<\/strong> for the installation of three factories in that state.<\/p>\n\n\n\n<p>According to the agreement, chassis for electric buses and trucks and electrified and hybrid passenger vehicles will be produced, in addition to processing lithium and iron phosphate.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-location-and-timeline\"><strong>Location and Timeline<\/strong><\/h2>\n\n\n\n<p>According to a report by &#8220;<strong>Inside Evs<\/strong>&#8220;, <strong>BYD<\/strong>&#8216;s facilities will occupy the area of the former <strong>Ford <\/strong>factory and according to the schedule known so far, construction will start in June 2023, where the two assembly lines (buses\/trucks and vehicles) are scheduled to start operations by the end of 2024.<\/p>\n\n\n\n<p>The third unit, which will process phosphate and lithium for electric vehicle batteries, will start operations earlier. The raw materials will be mined in <strong>Brazil <\/strong>and production will be destined for the Chinese market.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/latamobility.com\/wp-content\/uploads\/2022\/11\/BR-2-1024x576.jpeg\" alt=\"\" class=\"wp-image-14533\" srcset=\"https:\/\/latamobility.com\/wp-content\/uploads\/2022\/11\/BR-2-1024x576.jpeg 1024w, https:\/\/latamobility.com\/wp-content\/uploads\/2022\/11\/BR-2-300x169.jpeg 300w, https:\/\/latamobility.com\/wp-content\/uploads\/2022\/11\/BR-2-768x432.jpeg 768w, https:\/\/latamobility.com\/wp-content\/uploads\/2022\/11\/BR-2-1536x864.jpeg 1536w, https:\/\/latamobility.com\/wp-content\/uploads\/2022\/11\/BR-2-600x338.jpeg 600w, https:\/\/latamobility.com\/wp-content\/uploads\/2022\/11\/BR-2.jpeg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Photo: BYD Brasil<\/figcaption><\/figure>\n\n\n\n<p><strong>Read also:<\/strong> <a href=\"https:\/\/latamobility.com\/en\/bmw-lands-in-argentina-with-ambitious-electromobility-proposal\/\"><strong>BMW Lands in Argentina with Ambitious Electromobility Proposal<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-public-sector-support\"><strong>Public Sector Support<\/strong><\/h2>\n\n\n\n<p>One of the reasons for choosing Bahia for the <strong>BYD <\/strong>project is that the state will provide tax incentives until December 31, 2032, in accordance with state tax legislation. This is within the framework of the <strong>Special Incentive Program for the Bahia Automotive Sector<\/strong> (Proauto) and the <strong>Industrial and Economic Integration<\/strong> (Desarrolla).<\/p>\n\n\n\n<p><strong>The investment and works are expected to generate a total of 1,200 direct jobs in the installation process<\/strong>.<\/p>\n\n\n\n<p>The Chinese electric car manufacturer has been present in <strong>Brazil <\/strong>since 2014 with its production of photovoltaic modules, chassis for electric buses and batteries for commercial electric cars.<\/p>\n\n\n\n<p>With this new production plant, <strong>BYD <\/strong>expects to expand its market and continue marketing electric vehicles in different parts of the Latin American continent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Latin American market represents an important focus within the operations of BYD, a manufacturer that seeks to match Tesla in the electric vehicle market. A few days ago, the Asian automaker signed a protocol of intent with the government of Bahia, Brazil, which contemplates a significant investment of US$ 570 million for the installation&#8230;<\/p>\n","protected":false},"author":10,"featured_media":14536,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[2054],"tags":[1415,1564,1281,1489],"class_list":["post-14539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-electric-mobility","tag-byd","tag-electric-cars","tag-electric-mobility","tag-sustainability"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.7 (Yoast SEO v27.1.1) - 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