Bei Ke Cai Jing·2025-07-15 11:39Core Insights - BYD is expected to become the top-selling automotive company in Brazil, as stated by the Mayor of Rio de Janeiro, Eduardo Paes, who has firsthand experience with the company [1] - The launch of BYD's first passenger car factory outside Asia marks a significant step in its localization strategy, with the first vehicle rolling off the production line just 15 months after construction began [3][6] - BYD's investment in Brazil includes a total of 5.5 billion Brazilian Reais (approximately 7.1 billion RMB) for a large manufacturing complex, which will create 20,000 jobs and produce 150,000 electric and hybrid vehicles annually [4][8] Localization and Global Strategy - The factory in Brazil is designed to produce electric and plug-in hybrid vehicles, with a production capacity of 150,000 units, positioning it as the largest electric and hybrid vehicle manufacturing complex in Latin America [4][6] - BYD's strategy emphasizes local production, with plans to limit imports to no more than 10% of the locally produced vehicles, focusing on models not manufactured in Brazil [6] - The company aims to establish a comprehensive local network, including 240 fully operational dealerships by the end of 2025 [6] Sales Performance and Market Position - Since entering the Brazilian market in 2014, BYD has rapidly become one of its most important overseas markets, with cumulative sales exceeding 130,000 units by May 2025 [8] - In the first half of 2023, BYD's overseas sales surged by 132% year-on-year, with total sales reaching 472,200 units, accounting for 21.63% of its overall sales [13][15] - The company’s global strategy has evolved from merely exporting vehicles to establishing local production and R&D capabilities, enhancing its competitive edge in the global market [12][17]