BYD's Brazilian production base complex will start production in late 2024 to early 2025, with an expected annual capacity of 150,000 vehicles per year in the first phase.
(Image credit: BYD)
BYD (HKG: 1211, OTCMKTS: BYDDY) has officially begun construction of its production base complex in Brazil's Bahia state, which is expected to go into operation between the end of this year and early next year, according to a report today from local media outlet Jiemian.
BYD has paid the Bahia state government 287.8 million reais ($58 million) for a total of 4.6 million square meters of plant space, according to the report.
Part of the site for the complex is the former Ford Brazil plant, and BYD will build it from scratch, with the complex's old facilities to be used by suppliers to help produce new car parts.
BYD plans to build 26 new facilities, including new production warehouses and a test track, covering about 1 million square meters in the first phase, according to the report.
The complex is expected to be operational by the end of 2024 to early 2025, with a projected annual capacity of 150,000 vehicles per year in the first phase, the report said, citing statements from the Bahia state government and BYD.
Initial models to be produced include the BYD Dolphin, Song Plus, Yuan Plus and Dolphin Mini, according to the report. The Yuan Plus is called the Atto 3 in several international markets and the Dolphin Mini is the Seagull.
In October 2022, BYD signed a letter of intent with the Bahia state government to establish an automotive production facility in the industrial area left behind by Ford after it closed its plant on the outskirts of Salvador, Bahia's capital.
The Bahia state government said at the time that BYD would build electric buses and truck chassis, as well as electric and hybrid cars at the three plants, and would also process Brazilian lithium for use in car batteries for export to China.
On July 4, 2023, BYD and the government of Bahia announced that the company would establish a large manufacturing base complex consisting of three plants in Brazil.
The industrial complex includes a production plant that focuses on electric bus and truck chassis, a new energy passenger car production plant, and a processing plant specializing in lithium iron phosphate (LFP) battery materials.
The new energy passenger car production line will be able to produce pure electric models and plug-in hybrids, with a planned annual capacity of 150,000 units.
The LFP battery material processing plant will utilize local port resources to meet the growing demand for new energy products in the global market, BYD said at the time.
The industrial complex, with a total investment of 3 billion reais, was expected to create more than 5,000 local jobs, according to the previous BYD statement.
($1 = 4.9586 Brazilian reais)
