BYD “doubles” investment to produce electric cars in BA and will build buildings for employees

BYD will almost double its investment to produce electric cars in Brazil. The value, which was initially R$3 billion, will now be R$5.5 billion – a jump of 83% -, as announced at an event held at the factory in Camaçari, Bahia, according to the newspaper Folha de S. Paulo.

The Chinese giant did not give details on how it will apply the extra amount, but said it will build five residential buildings to house employees, according to the magazine Four wheels. The practice is common in China, including at BYD’s headquarters in that country.

The buildings will be located in an area of ​​81 square meters and 3.5 kilometers away from the factory. The capacity of the residential area is for 4,230 people. The expectation is to generate 10 thousand jobs. According to SheetBYD claims to have paid R$287.8 million for the space to the Government of Bahia.

In a press release, BYD’s global executive vice-president, Stella Li, said that in the last 30 years “little has been invested in the automotive sector in Brazil”, and that the arrival of BYD shook the market, leading other automakers to announce long-term investments.

“It is important to highlight that our R$5.5 billion will be invested in a short space of time. We want to speed up the works so that we can soon have the first cars produced in Bahia”, stated the executive.

The plan is to start producing BYD’s first Brazilian electric cars in Brazil later this year, as said Alexandre Baldy, BYD’s special advisor in Brazil, in an interview with People’s Gazette.

Camaçari is in the metropolitan region of Salvador. The factory is on the same land where the old Ford was located, and will initially produce the Dolphin, Dolphin Mini and Song Plus hybrid SUV models, for a total of 150,000 units per year.

The company’s expansion includes a research center and the development of new products and businesses.

Plans include a lithium mine – the main raw material for batteries – in Minas Gerais, and local production of parts. Baldy says that investment projects in the production chain are underway and that the focus now is to get the Bahian plant up and running and start manufacturing Brazilian electric cars.