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China's Global Electric Vehicle Boom
A BYD Brazil factory under construction in Camaari, Salvador, Brazil, on Friday, Jan. 10, 2025. Tuane Fernandes/Bloomberg via Getty Images hide caption
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Tuane Fernandes/Bloomberg via Getty Images
A BYD Brazil factory under construction in Camaari, Salvador, Brazil, on Friday, Jan. 10, 2025.
Tuane Fernandes/Bloomberg via Getty Images
Sales of electric vehicles worldwide have been growing and the largest manufacturer of EVs is China's BYD. Their global revenue was over $100 billion in 2024, beating Tesla. To keep up that growth and to try to stave off the pain of U.S. tariffs, BYD is expanding in emerging markets. One of the markets where their cars are selling big is Brazil, where BYD is investing nearly a billion dollars in a factory. But as our Brazil correspondent tells us there have been some difficulties along the way.
