Chinese automotive giant BYD has officially inaugurated its largest overseas manufacturing facility in Camacari, Brazil, marking a significant milestone in the company’s global expansion and Brazil’s green industrial transformation. The event, held on October 9, was attended by Brazilian President Luiz Inacio Lula da Silva and BYD CEO Wang Chuanfu, among other dignitaries. The $980 million mega factory, constructed on the site of a former Ford plant, is set to produce 150,000 vehicles annually in its initial phase, scaling up to 300,000 in the second phase and reaching a full capacity of 600,000 units. The facility will cater to the Brazilian market and extend its reach across Latin America. BYD, already a dominant player in Brazil’s electric and hybrid vehicle sectors, aims to further solidify its market share with localized production. President Lula emphasized the factory’s role in restoring dignity and sovereignty to the region, highlighting its potential to drive technological advancement and economic recovery. BYD’s investment aligns with Brazil’s New Industry Brazil plan, which focuses on innovation and green transition. The company plans to leverage Brazil’s abundant clean energy resources and foster a robust value chain, including research and development initiatives. BYD Brazil President Tyler Li outlined the company’s commitment to reducing fossil fuel dependence through innovations like the hybrid flex engine and advancements in electric bus chassis production. The project is expected to create 10,000 direct jobs and stimulate the local economy. Bahia’s Secretary of Economic Development, Angelo Almeida, noted that BYD’s presence could position the state as a hub for electric mobility and Industry 4.0 technologies, further enhancing its technological potential.