China makes a big bet on electric vehicles with Brazil investment | Business and Economy News

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Sao Paulo, Brazil – Stella Li stood in front of a packed stage, banging a brightly decorated drum to a samba-reggae rhythm.

Moments earlier, Li, global vice president of the world’s largest electronic vehicle manufacturer, BYD, had announced that the Shenzhen-headquartered Chinese company would open an industrial complex in Brazil’s northeastern state Bahia.

“Our dream is to build Bahia state as a centre of innovation and high technology,” she said at an event in early…

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