According to foreign media reports, Andina, a local news agency in Peru, quoted Peruvian Foreign Minister Javier Gonz á lez Olaechea as saying that BYD is considering establishing an assembly plant in Peru to fully utilize the strategic cooperation between China and Peru around the Chancay port.
In June of this year, Peruvian President Dina Ercillia Boluarte Zegarra visited China, accelerating the warming of friendship between China and Peru. The key factor in Peru's cooperation with China is the establishment of a free trade agreement. In addition, China and Peru have also launched the Qiankai Port project, in which China Ocean Shipping holds a 60% stake. After completion, the port will become the gateway from South America to Asia.
On June 26th, Dina Ercilia also visited the headquarters of BYD and Huawei in Shenzhen, and mentioned after meeting with these two companies that BYD may build a factory in Peru.
Peruvian Foreign Minister Javier Gonz á lez Olaechea said that Shenzhen is China's most important digital technology center, and his visit to BYD and Huawei headquarters left a deep impression on him. The Peruvian Foreign Minister also mentioned that BYD has expressed the possibility of establishing assembly plants in Peru and two other Latin American countries.
Previously, BYD was exploring the possibility of establishing electric vehicle factories in Mexico and Brazil. These two countries have also established good diplomatic relations with China. In May 2024, BYD began building a manufacturing base in Brazil. The factory will start operating in early 2025, with an initial production capacity of 150000 vehicles. In June 2024, Mexican officials also stated that negotiations around BYD's production plant had entered the final stage.
Due to Peru's border with Brazil, if BYD establishes an assembly plant in Peru, it can better promote BYD's development in the market. In addition, the Peruvian minister has not confirmed that BYD will establish a passenger car production plant in Peru. Therefore, BYD has many options: buses, batteries, trains, and automotive parts.
In March of this year, BYD launched the Shark pickup truck model in Mexico, priced at 899980 Mexican pesos (approximately 53400 US dollars). This is a plug-in hybrid car that is comparable in size to the Hilux model, with a power of 429 horsepower and a 0-100 km/h acceleration time of 5.7 seconds.