Chinese conglomerate manufacturing firm Build Your Dreams (BYD) is set to expand its operations with a new factory in South Africa. The company is engaged in discussions with the South African government. The full scope of the project, including timeline or location are yet to be announced. The construction of the proposed facility will not only enable BYD to capitalize on South African critical minerals – essential for the construction of electric vehicle components such as batteries – but significantly reduce the costs of hybrid and electric models in South Africa.
Source : Energy Capital
