BYD, a Chinese car company, has purchased an old Ford plant in Bahia, Brazil, with plans to produce electric and hybrid vehicles there.
They will also create batteries and export key materials to China. The company will modify and expand the old Ford plant.
They plan to spend about $594 million. BYD aims to lead the electric car market in Brazil and South America.
In Brazil, the police may need up to 5,000 specialized cars every year for the next 10 years.
BYD aims to produce 150,000 vehicles initially. They plan to start production between late 2024 and early 2025.
The first cars made will be the BYD Dolphin and the BYD Song Plus. Both are already available in Brazil. The Dolphin is electric, and the Song Plus is a plug-in hybrid.
This will be BYD’s first car plant in Brazil and the second outside China. They will build three different units. One for cars, one for trucks and buses, and one for batteries.
Several important people attended the launch. Among them were Brazil’s Vice President and the Governor of Bahia. Also, the Global and Americas CEOs of BYD were present.
Background
BYD’s entry into Brazil is a big deal. Brazil has many raw materials, making it good for battery making. This could make Brazil important for electric cars.
China’s investment in Brazil is part of a bigger plan. They want to grow their influence in South America.
This move is also about politics. It could mean stronger ties between China and Brazil.
Using the old Ford plant is smart. It’s a way to use resources well and be sustainable.
The high demand for police cars in Brazil opens a special market for BYD. It’s a smart business move.
Electric police cars are good for the environment. They fit with efforts to lower pollution.
Many different groups helped launch this plant.
This shows that teamwork can make big things happen. The timing is right for this plant. More and more people are looking to buy electric cars.