BYD projects to start production in Brazil by early 2025

In an event at the former Ford factory in the city of Camaçari, Bahia, the Chinese automaker BYD unveiled its plans to commence electric car manufacturing in Brazil. The intention is for production to commence between late 2024 and early 2025, with an initial target of manufacturing 150,000 vehicles annually.

During the foundation stone-laying ceremony for the future factory, the Governor of Bahia, Jerônimo Rodrigues, announced a state government bill proposing a 100% exemption from the IPVA (Vehicle Property Tax) for electric cars priced up to R$ 300,000, while electric vehicles above this price range will have a fixed 2.5% IPVA rate. According to him, this agreement was reached with the Chinese automaker.

BYD pledges to invest R$ 3 billion in its first hybrid electric car factory outside Asia. The Chinese company claims that this endeavor will generate over 5,000 jobs. Although specifics were not disclosed, Bahia Senator Otto Alencar also mentioned prospective incentives.

In addition to cars, BYD plans to manufacture electric buses and trucks at the Bahia factory.

The global CEO and founder of BYD, billionaire Wang Chuanfu, visited Camaçari to announce the factory’s plans.

The Chief of Staff, Rui Costa, stated President Lula called the entrepreneur shortly before the event to congratulate him on the factory.

Ford ceased operations in Camaçari in 2021, and the contract formalizing the reversion of the industrial complex to the State of Bahia was signed by Ford on the 4th day. This operation enabled the Chinese venture, with strong support from the state.

BYD has facilities in Campinas (for bus chassis and solar panels) and Manaus (for vehicle batteries). According to Alexandre Baldy, a special advisor to BYD, Bahia will see technology development for ethanol-based hybrid electric cars, marking an innovation in Brazil.

Source: Valor Econômico

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