Chinese conglomerate manufacturing firm Build Your Dreams (BYD) is set to expand its operations with a new factory in South Africa. The company is engaged in discussions with the South African government on the matter.
The full scope of the project, including timeline or location are yet to be announced. The construction of the proposed facility will not only enable BYD to capitalize on South African critical minerals – essential for the construction of electric vehicle (EV) components such as batteries – but significantly reduce the costs of hybrid and electric models in South Africa.
“South Africa is negotiating with BYD, the Chinese automaker and the world’s largest electric-vehicle manufacturer, for possible opening of a manufacturing plant in South Africa,” a statement published by the South African Cabinet read. “
This is in addition to the opening of the BAIC manufacturing plant in South Africa.
The move follows BYD’s entry into Africa in June 2023 with the introduction of the BYD Atto 3, an electric C-segment crossover, to the South African market.