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BYD Considers Establishing an Assembly Plant in Peru, Says Foreign Minister
According to foreign media reports, Peruvian news agency Andina has cited Peruvian Foreign Minister Javier González-Olaechea in reporting that BYD is considering the establishment of an assembly plant in Peru, leveraging the strategic cooperation between China and Peru around the Chancay port.In June this year, Peruvian President Dina Ercilia Boluarte Zegarra visited China, accelerating the friendship between the two countries. The key factor in Peru’s cooperation with China is the establishment of a free trade agreement. In addition, both countries have embarked on the Chancay port project, with China Ocean Shipping holding a 60% stake. Upon completion, the port will become a “gateway from South America to Asia.”
On June 26, Dina Ercilia also visited the headquarters of BYD and Huawei in Shenzhen and mentioned after meeting with these companies that BYD might establish a factory in Peru.
Peruvian Foreign Minister Javier González-Olaechea said that Shenzhen is China’s most important digital technology center and that his visit to the headquarters of BYD and Huawei left a deep impression on him. The foreign minister also mentioned that BYD has indicated the possibility of establishing assembly plants in Peru and two other Latin American countries.
Previously, BYD was also exploring the possibility of establishing electric vehicle factories in Mexico and Brazil, which also have good diplomatic relations with China. In May 2024, BYD began construction of a manufacturing base in Brazil. The factory is expected to start operations in early 2025 with an initial capacity of 150,000 cars. In June 2024, Mexican officials also indicated that negotiations around BYD’s production plant were in the final stages.
Given that Peru shares a border with Brazil, the establishment of an assembly plant in Peru by BYD could better promote the company’s market development. Moreover, the Peruvian minister did not confirm that BYD would establish a passenger car production factory in Peru. Therefore, BYD has many options: buses, batteries, trains, and automotive parts.
In March this year, BYD launched the Shark pickup truck in Mexico, priced at 899,980 Mexican pesos (approximately $53,400). This is an electric plug-in hybrid vehicle with a similar size to the Hilux model, with a power of 429 horsepower and a 0-100 km/h acceleration time of 5.7 seconds.
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