Chinese car manufacturer BYD will increase investment in its electric vehicle factory in Camaçari, Brazil, by 83% to 5.5 billion reais (1 billion euros), the Chinese press reported on March 19.

The world's largest electric car manufacturer said that the initial production capacity of the complex will be around 150,000 units per year, with a view to starting operations by the end of 2024.

The Camaçari plant - located in the state of Bahia - will produce electric and hybrid cars, such as the Dolphin, Song Plus, Yuan Plus and Dolphin Mini, for Brazil and other Latin American markets in which the company operates.

The complex, which occupies more than 4.6 million square meters of the former Ford factory, will manufacture electric bus and truck chassis and process lithium and iron phosphate.

(Source: Jornal Económico, on March 19)