President Luiz Inácio Lula da Silva met with top executives from BYD and General Motors (GM), announcing a R$10 billion ($2 billion) investment in Brazil.
These talks in Brasilia highlighted Brazil’s growing electric vehicle (EV) market and its role in automotive innovation and eco-friendly development.
The meeting started at Alvorada Palace with BYD, marking its first factory in the Americas in Bahia.
This R$3 billion ($600 million) investment aims to create over 10,000 jobs and boost the local economy, focusing on sustainable vehicle production.
BYD also provided an electric car for the President’s use, showcasing a commitment to clean energy.
Later, GM shared plans to invest R$7 billion ($1.4 billion) by 2028 at Planalto Palace.
This investment will improve production, focus on electric vehicles, and aim for a greener future.
It shows Brazil’s role in global manufacturing and commitment to sustainable transport.
These investments align with President Lula’s plans for modernizing the industry and pushing for a greener future.
They aim to make Brazil a hub for innovation and eco-friendly automotive production, ensuring economic growth and sustainability.
Vice President Geraldo Alckmin and Minister Rui Costa supported these initiatives, highlighting the government’s drive for innovation and a better economy.
They emphasized policies for a competitive industry and a focus on electric vehicles.
This marks a key moment for Brazil, showing it’s ready to lead in sustainable and innovative automotive manufacturing.