BYD and Great Wall Motors plan to open assembly plants in Brazil

In order to accelerate the popularity of electric vehicles, BYD and Great Wall Motors plan to open factories in Brazil. BYD expects to start production in March next year with an investment of 5.5 billion reais, and is expected to reach an annual output of 300,000 vehicles in two years. Great Wall Motors expects to start operations in May next year with an investment of 10 billion reais. The positive moves of the two companies will help increase their market share in Brazil.