Not Only Brazil, Mexico, Thailand, And Turkey, BYD Reportedly Consider Building Factory In Peru

JAKARTA - Success globally adds to BYD's confidence to continue to expand, including increasing competition with Tesla to earn the title of world's largest electric battery vehicle maker.

The latest news from the Chinese brand, reported by CNN International, July 10, has agreed to build a $1 billion automaker in Turkey which the Turkish government immediately announced.

CEO BYD Wang Chuanfu and Turkish Minister of Industry and Technology Mehmet Fatih Kaci are said to have signed the agreement in Istanbul. In fact, Turkish President Recep Tayyip Erdogan immediately attended the signing ceremony.

While apart from Turkey, BYD is also considering the possibility of building an assembly plant in Peru.

This was based on Andina's local media report, which revealed that Peruvian Foreign Minister Javier Gonzmenglez-Olaechea said the establishment of the BYD manufacturing facility would utilize the China-Peru strategic collaboration around Chancay Port.

Friendship between China and Peru increased when Peru President Dina Ercilia Bouarte Zegarra visited China in June. On that occasion, he also made an appointment with BYD and Huawei.

Gonzonglez Olaechea said that Shenzhen is the most important digital technology center in Chuna. He also said BYD raised the possibility to set up an assembly plant in Peru, as well as in two other Latin American countries.

"In this case, what exists is just a good welcome, a very promising statement, some are very specific about the fact that the next step will be taken in connection with the increase in existing investments or from companies that will start their prospecting activities to evaluate and, of course, do more investments in Peru," he said, followed by the CNevpost website, Wednesday, July 10.

Previously BYD had also explored the establishment of EV factories in Mexico and Brazil. The two countries also build good relations with China.

For a factory in Brazil, in May 2024, BYD began construction of a manufacturing complex in Brazil. It will start operating in early 2025 with an initial production capacity of 150,000 cars. In June 2024, Mexican officials said negotiations surrounding the BYD plant were in the final stages.

Meanwhile, the new BYD plant in Thailand will become a production base for electric cars and support sales in Thailand, as well as exports to other Asean markets. BYD says the plant has a production capacity of around 150,000 vehicles per year and will also produce important components, such as batteries and transmissions.

The establishment of an assembly plant in Peru is a possible choice because it borders Brazil. However, two manufacturing facilities can help BYD to improve its development in the market.