China-based BYD accelerates its expansion in emerging markets. The EV company announced with the Bahia state government of Brazil a plan to construct an industrial complex for EVs in the country. Production is slated to start in the second half of 2024.
According to a statement from BYD on July 5, the industrial complex, which is located in Camacari, will include three plants. The facilities aim to produce electric bus and truck chassis, electric passenger cars and process LFP battery materials, respectively.
BYD said the electric passenger vehicle factory will manufacture battery and plug-in hybrid EVs, targeting 150,000 cars per year. The carmaker also plans to utilize the ports in Brazil to export the LFP materials processed locally.
According to BYD, total investment of the project is expected to reach BRL3 billion (US$618.7 million). The company aims to commence the facilities in the second half of 2024, with over 5,000 jobs being created.
CnEVPost reported that BYD signed a letter of intent with the Bahia state government to establish an automotive production base in the area. The carmaker entered the Brazilian market close to 10 years ago and just launched its fifth EV model in the country at the end of June.
BYD's Chinese competitor SAIC-GM said on July 5 that it has started building the Dongyue Ultium Center in Shandong, China. According to the company, the plant is part of its CNY70 billion (US$9.8 billion) investment in electrification and connected vehicles.
While SAIC-GM did not reveal details about the new facility, it said production is slated to begin in the first half of 2025. The plant is the third that SAIC-GM has built in China to produce and support Ultium-based EVs.
The carmaker said it delivered 7,503 EVs in June, a record high. By 2025, SAIC-GM plans to introduce 10 Ultium-powered models in China.
