BEIJING, July 6 (AsianFin) —— BYD will build three plants in Brazil to produce new energy passenger cars, process lithium iron phosphate materials, and produce electric buses and truck chassis, which are expected to be put into operation in the second half of 2024, according to the announcement made by BYD on Wednesday.

The passenger car plant will be BYD's second overseas passenger car plant and also the first passenger car plant in South America, with an annual capacity of 150,000 units.

BYD's first overseas passenger car plant is located in Thailand. BYD Thailand Ltd. signed a contract with WHA Weihua Group Volkswagen Ltd. in September 2022 to build an 875,000 square meter passenger car plant, with an annual capacity of approximately 150,000 units. It is expected to be put into operation in 2024.