President Luiz Inácio Lula da Silva will meet with the governor of Bahia, Jerônimo Rodrigues, and the Executive Vice President of BYD and President for the Americas, Stella Li, on Wednesday (June 28).
BYD is a major global manufacturer of electric cars, and the Brazilian government has been negotiating for the company to take over the Camaçari Automotive Complex in Bahia.
The deal was expected to be finalized during Lula’s visit to China in April but was not announced at that time.
The meeting will also include the Minister of the Civil House, Rui Costa, who is from Bahia. It is scheduled for 5:30 PM.
Ford previously operated the Camaçari plant until 2021 when the American automaker ceased car production in Brazil, leading to the layoff of approximately 4,000 workers in the region.
The Brazilian government has been facilitating negotiations between the Chinese and American companies since Ford still owns the Camaçari plant.
A protocol of intentions was signed between BYD and the government of Bahia in October 2022.
The Chinese automaker is expected to invest around R$ 3 billion and create about 1,200 direct jobs through its entry into Brazil.
The governor of Bahia sees the arrival of BYD as an opportunity to revive the region’s economy by stimulating additional indirect employment opportunities.
During his visit to China, President Lula met with BYD’s CEO, Wang Chuanfu, accompanied by ministers and governors from the entourage.
Chuanfu discussed China’s policies that have fostered a robust electric vehicle industry.
For instance, the adoption of 100% electric urban buses has gained traction in several Brazilian cities, but implementation faces significant costs.
According to a survey by Power360, electrifying transportation in 18 capital cities would require nearly R$37 (US$7.5) billion in one year, based on industry and transportation sector data.