The News
Chinese electric-vehicle giant BYD bought a Brazilian manufacturing plant formerly owned by Ford, the latest example of Chinese firms outmuscling US rivals across Latin America.
The Shenzhen-based carmaker has vowed to make its Brazilian factory the biggest outside of China as sales have soared in the South American nation: EV sales jumped 84% in Brazil last year, with seven out of every 10 cars sold made by BYD.
US President Donald Trump has vowed to crack down on China’s influence in the region, as the two superpowers’ battle for control in Latin America has left leaders struggling to pick sides. “It’s likely going to be a bumpier road going forward,” an expert told Bloomberg.
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