<p>In an effort to increase local manufacturing and provide more competitive pricing, the Chinese manufacturer BYD said on Tuesday that it would spend 3 billion reais in a new industrial complex in northeastern Brazil.</p>
<p>The complex, which consists of three facilities, will be constructed on the site of a Ford facility that shut down in 2021 at the Camacari industrial park in the northeastern state of Bahia.<img decoding=”async” class=”alignnone wp-image-59695″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/07/www.theindiaprint.com-in-a-new-industrial-complex-in-brazil-byd-will-invest-620-million-dollars-download-2023-07-05t182152.755.jpg” alt=”” width=”993″ height=”661″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/07/www.theindiaprint.com-in-a-new-industrial-complex-in-brazil-byd-will-invest-620-million-dollars-download-2023-07-05t182152.755.jpg 275w, https://www.theindiaprint.com/wp-content/uploads/2023/07/www.theindiaprint.com-in-a-new-industrial-complex-in-brazil-byd-will-invest-620-million-dollars-download-2023-07-05t182152.755-150×100.jpg 150w” sizes=”(max-width: 993px) 100vw, 993px” /></p>
<p>The revelation follows a rumored effort by the government to encourage BYD to construct a new electric vehicle center after Ford shut down its manufacturing in the region.</p>
<p>The plants are anticipated to begin operating in the middle of 2024. According to a statement from BYD, one of the sites would be devoted to producing bus and electric vehicle chassis.</p>
<p>With an initial production estimate of 150,000 vehicles annually, the second factory will concentrate on hybrid and electric vehicles, while the third would process lithium and iron phosphate for export. The business said that the complex will provide approximately 5,000 employment.</p>
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