BYD eyes $1bn in clean-energy investments in BrazilValor Econômico
BYD, a Chinese manufacturer of vehicles and rechargeable batteries, will have $1 bllion to invest in clean-energy use in Brasil from 2017. BYD do Brasil's marketing director, Adalberto Maluf, says the funds could subsidize the purchase of eletric buses and cars, as well as solar panels. The funds will be financed by the Development Bank of China, which will lend a total of $10 billion for the parent company. BYD wnats to use the money to finance the price premium of eletric vehicles through leasing contracts.
São Paulo has already passed a law mandating clean-energy sources on 10% of its bus fleet by 2018.