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LatinNews Daily - 3 December 2024

In brief: BYD to start EV production in Brazil in March

*Brazil’s President Luiz Inácio Lula da Silva has held a meeting in the presidential palace with Stella Li, a vice president of Chinese car manufacturer BYD who leads the company’s Americas business. She confirmed yesterday that BYD’s plant in Camaçari, in the north-eastern state of Bahia, will begin operation in March 2025. Previously the site of a factory owned by US carmaker Ford that closed in 2021, this industrial complex in Camaçari is BYD’s first electric vehicle (EV) production facility in Brazil, and Li has described it as the “largest and most advanced EV production plant in the world, outside of China”. According to a government press release, BYD expects to produce 150,000 vehicles by the end of 2025 and 300,000 vehicles in 2026, which will prioritise sales in Brazil and South America. The Lula administration has highlighted the potential boost to local employment, projecting around 10,000 direct jobs to be created by the end of 2025. The Camaçari complex will also have a research centre, with 110 Chinese and Brazilian engineers.  

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