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Chinese battery and electric vehicle maker BYD doubled Brazil's solar panel production from February 1
, 2020.
Adalberto Maluf, BYD's director of market and sustainability in Brazil, recently told Reuters that the move was based on factors such as the company's optimism about the local market and falling parts costs
.
BYD expects Brazilian solar panel factories to capture 35 percent of the local market this year, compared to 20 percent
in 2019.
The company has been competing
in the local PV equipment market through its Campinas plant since 2017.
Although BYD did not disclose the number of expansions, it said that the new production targets will be achieved mainly by expanding the team, without the need for a large investment
in production.
Back in December, the Brazilian Chamber of Foreign Trade (Camex) zeroed in import taxes on solar cells, while the government's Finance and Taxation Committee approved a bill introducing incentives such as the purchase of renewable energy equipment
.
Chinese battery and electric vehicle maker BYD doubled Brazil's solar panel production from February 1
, 2020.
Adalberto Maluf, BYD's director of market and sustainability in Brazil, recently told Reuters that the move was based on factors such as the company's optimism about the local market and falling parts costs
.
BYD expects Brazilian solar panel factories to capture 35 percent of the local market this year, compared to 20 percent
in 2019.
The company has been competing
in the local PV equipment market through its Campinas plant since 2017.
Although BYD did not disclose the number of expansions, it said that the new production targets will be achieved mainly by expanding the team, without the need for a large investment
in production.
Back in December, the Brazilian Chamber of Foreign Trade (Camex) zeroed in import taxes on solar cells, while the government's Finance and Taxation Committee approved a bill introducing incentives such as the purchase of renewable energy equipment
.
