On February 2nd, BYD and Raízen Power, a subsidiary of Shell in Brazil, entered into a strategic partnership with plans to construct BYD-Shell electric vehicle charging centers in eight major cities in Brazil over the next three years. This initiative aims to provide local users with convenient and efficient charging services.

BYD and Raízen Power will jointly expand Brazil's public charging network, intending to create 600 new DC charging stations with an additional installed capacity of 18 megawatts. This will establish a well-planned, scientifically efficient charging infrastructure system to further meet the recharging needs of local electric vehicles.

Furthermore, this collaboration offers exclusive benefits for BYD vehicle owners in Brazil. Users will enjoy the services of BYD-Shell electric vehicle charging centers at a more favorable price.

This signifies BYD's accelerated entry into the Brazilian market for passenger vehicles. As early as 2015, BYD entered the Brazilian market primarily as an exporter of commercial vehicle products. In recent years, BYD's passenger vehicle business has begun to penetrate the Brazilian market.

In May of last year, BYD publicly stated that with the launch of the Han EV in Brazil, it would further enhance its visibility in the local passenger vehicle market. It is expected that by the end of 2023, BYD Brazil, in collaboration with various dealerships, will extend its pure electric passenger vehicle business to 45 major cities in Brazil and plans to have 100 designated dealerships.

Moreover, BYD plans to establish a factory in Brazil. In July of last year, according to Bloomberg, BYD announced a 3 billion Brazilian reais (approximately 4.5 billion Chinese yuan) investment to build its first electric vehicle factory outside of Asia in the state of Bahia in northeastern Brazil. The facility will consist of three plants: one focusing on the production of electric buses and truck chassis, one for the assembly of new energy passenger vehicles, and one dedicated to processing lithium iron phosphate battery materials.