The Chinese manufacturer of electrified vehicles, BYD, will increase investment in its electric vehicle factory in Camaçari, Brazil, by 83%, to one billion euros.
According to Chinese media reports on Tuesday, BYD’s production unit in Brazil will have the capacity to produce 150,000 units per year and will start operations by the end of 2024.
The factory located in the state of Bahia will produce 100% electric and hybrid vehicles, such as the Dolphin, Song Plus, Yuan Plus, and Dolphin Mini, for the Brazilian market and other Latin American markets where the company operates.
The project, which officially began construction on March 5, is expected to create more than 5,000 direct jobs, with BYD also announcing the construction of five residential buildings to accommodate around 4,230 employees.
