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BYD's total investment in Brazil will reach 400 million U.S. dollars. In late 2014 or early 2015, BYD intends to purchase land in Brazil for the construction of a lithium iron phosphate battery.
On July 17th, Brazil’s local time, under the joint witness of China and Brazil’s top national leaders, BYD and Brazil’s Export and Investment Promotion Agency formally signed a contract in the Presidential Palace of Brasilia. BYD will invest in Brazil to build the largest iron battery in South America. The factory fills Brazil’s historical gap in the industry. This is the first iron battery plant that BYD has invested in South America. Prior to this, BYD has officially announced that it will establish a new energy bus plant in Brazil and build a South American R&D center. On the signing ceremony of the day, BYD was the only Chinese new energy automobile company among the 35 contracted companies.
According to the investment plan, BYD's total investment in Brazil will reach 400 million U.S. dollars. In late 2014 or early 2015, BYD intends to purchase land in Brazil for the construction of a lithium iron phosphate battery. Currently, BYD is negotiating with relevant state and city governments. It is expected that the final site will be determined before the end of this year. The area required for the iron battery plant is at least 1.5 million square meters. After completion, the plant will be the first iron battery plant in South America.
The BYD's investment in the iron battery plant in Pakistan is of far-reaching significance. It will not only introduce a new industry for Brazil – the battery industry, but also make full use of Brazil’s rich reserves of raw materials, driving Brazil’s development in the battery industry and new energy industry. After the completion of the battery factory, Brazil will become the next country with battery production capacity after Japan, China, South Korea, and the United States, and Brazil will also become the only country in the world that produces iron batteries. BYD's locally manufactured lithium iron phosphate battery will also prepare for the production of electric vehicles in Brazil in the future. Lithium iron phosphate battery is independently developed by BYD, which has many advantages such as safety, environmental protection, recyclability, and reliability. At present, electric vehicles and energy storage systems equipped with iron batteries have been widely used throughout the world and have stable performance. Among them, the energy storage system can also be applied to solar power plants, hydroelectric power generation and wind power plants. It can not only significantly increase the power supply capacity, but also improve the quality and stability of the power supply network.
Wang Chuanfu, president of BYD Co., Ltd., said that we are honored to sign the first investment project of BYD in South America and Brazil under the common witness of the top leaders of China and Pakistan! The establishment of an iron battery plant in Brazil is an historic step for both countries. Not only will China deliver the world’s top new energy technologies from Brazil, it will also create more job opportunities for Brazil. With this as an opportunity, BYD's new energy vehicles, energy storage, solar energy and other related businesses will open the Brazilian market and radiate the entire South American region.
Mr. Mauricio Borges, Director General of Brazilian Export and Investment Promotion Agency, said that Brazil has always attached importance to the protection of the ecological environment and attached importance to the development of new energy and environmental protection industries. BYD can invest in pure electric buses and iron battery factories in Brazil. It is an important milestone in attracting foreign investment in Brazil. Brazil finally has its own iron battery industry and will play a crucial role in the adjustment and development of the new energy industry structure in Brazil.
It is understood that starting in November last year, BYD pure electric buses have been tested in major cities such as Sao Paulo, Salvador, and Rio de Janeiro, Brazil. The investment and construction of Brazil will lay a solid foundation for BYD's further expansion into the South American market.