BYD Company Ltd.’s Wang Chuanfu made history this week signing a contract to be the first Chinese manufacturer to open a battery factory in Brazil. The magnificence of the event was only elevated by the presence of both Xi Jinping, the President of China, and Dilma Rousseff, the President of Brazil, whom were already together for the BRIC Summit that week in Brasilia.
The deal to build a factory in which BYD will produce their revolutionary fire safe, and completely recyclable Iron-Phosphate Batteries will bring BYD’s investment in Brazil up to $400,000,000.00. The batteries will be manufactured in an area of 1,500,000 square meters, and support BYD’s growing new energy business throughout Latin and South America. After signing, BYD’s Founder and Chairman, Wang Chuanfu said he was completely honored to be a part of such a historic moment, and in the company of two great public leaders. The deal was structured through Apex-Brasil, the Brazilian Trade and Investment Promotion Agency. Their President, Mr. Mauricio Borges, spoke to the importance of renewable energy technologies, and how Brazil is at a critical point in history where they must begin adopting these alternative solutions.
This news comes on the back of another project BYD had just announced in the city of Campinas, Brazil. The Campinas factory is being opened to manufacture BYD’s long range pure electric transit bus, as well as serve as a research and development facility for a number of BYD’s other renewable energy technologies.