BEIJING, July 6 (Xinhua) -- China's carmaker BYD announced reaching an agreement to build a large-scale production base complex consisting of three factories with Brazilian state of Bahia on Tuesday.
The three factories will focus on the production of chassis for electric buses and trucks, production of 150,000 units of hybrid and electric cars annually, and processing of lithium and iron phosphate battery materials, respectively.
Li Ke, executive vice president of BYD Group, said the construction of such a large-scale production base complex in Brazil is an important milestone for BYD's development in the American market, which will help accelerate the popularization of new energy vehicles in the local area.
BYD plans to invest 3 billion reals (around 620.5 million U.S. dollars) in the project, and the complex is scheduled to start production in the second half of 2024, creating 5,000 jobs locally. (Edited by Bao Nuomin with Xinhua Silk Road, baonuomin@xinhua.org)
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