BYD plans factory in Brazil

One of Chinese biggest automobile and rechargeable batteries manufacturers plans to build a factory in Brazil, the Wall Street Journal reported.

BYD Co will invest $91 million in its first South American plant in Brazil, the paper said.

According to a Brazilian official, the factory will be located in Campinas in the state of Sao Paulo.

It will produce electric buses, batteries and solar panels and will create 450 jobs.

In January, BYD stated its intentions to build a factory in Brazil with a manufacturing capacity of 4,000 electric buses a year for the Brazilian and South American markets.