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2023 BYD Atto 3 EV is priced from from RM149,800 in Malaysia.
BYD, a Chinese automaker, announced on Tuesday that it will invest 3 billion in a new industrial complex in northeastern Brazil, with the goal of increasing local production and offering more competitive prices.
The three-plant complex will be built in the Camacari industrial park in the northeastern state of Bahia, on land previously occupied by a Ford plant that will close in 2021.
The announcement follows a reported government push to incentivize BYD to build a new electric car hub in the state after Ford closed its plant there.
The plants are expected to begin operations in mid-2024.
According to BYD, one of the plants will be dedicated to the production of chassis for buses and electric trucks. The second plant will focus on hybrid and electric vehicles, with an initial production capacity of 150,000 vehicles per year, and the third will process lithium and iron phosphate for the international market. The complex would create over 5,000 jobs, according to the company.
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