BYD invests in building an electric vehicle R&D center in Brazil

According to Nikkei, BYD, a leading Chinese electric vehicle company, will invest 300 million reais (approximately US$56.9 million) to build an electric vehicle research and development facility in Brazil. The new facility will be located near Galeao International Airport in Rio de Janeiro. Brazilian President Luiz Inacio Lula da Silva attended the project's announcement ceremony last week.