China's BYD begin its EV operations in Brazil

BYD Americas President Stella Li during the launch of the two SUV models on Wednesday

In an effort to capitalise on positive political and environmental trends in Latin America's largest auto market, Chinese automaker BYD Co Ltd will begin selling two new EV vehicles in Brazil this month.

‘’I believe now is the right time politically and environmentally for us to invest in building these new technologies in Brazil, ‘’ BYD Americas President Stella Li said in an interview during the launch of the two SUV models on Wednesday.

Two vehicle namely hybrid Song and an all-electric Yuan will be imported until new plants in the northeastern state of Bahia begin production. ‘’But it will be a very challenging process and we need a government that has an open mind for technology to grow here’’ Li added.

In his manifesto for the election he won in October, President-elect Luiz Inacio Lula da Silva called for industries focusing on a "green economy" and the need to modernise the car industry with hybrid vehicles. He also promised to revise Brazil's environmental legislation when he becomes office on January 1.

The Bahia government said BYD would build electric bus and truck chassis, as well as electric cars and hybrids at three plants with an investment of 550 million and also process Brazilian lithium for vehicle batteries for export to China. 

Li declined to give details and said a decision on the project should be made by the end of this year. However, BYD does expect that 10% of all vehicle sales in Brazil will be electric and hybrid models by 2025 compared to the current 2.4 % and EV market share could jump to 30% by 2030. 

Source: REUTERS