Bravo Motor Company Brasil, an EV technology company and a part of the international ArqBravo Group with more than 700 investors in 20 countries, announced the signing of a protocol of intent for the first lithium-ion battery gigafactory in Latin America.
The deal is with the government of Bahia and municipality of São Sebastião do Passé in Brazil. The factory will produce lithium battery cells for electric vehicles and energy storage systems. Brazil aims to be the leader in the energy transition and the decarbonisation of the economy in Latin America.
The protocol includes the donation of 400,000 sq m of land. It is well connected to ports and roads, and will expand as the project evolves. The first phase of the project is valued at $109 million for 1GWh of capacity. The Brazilian unit will challenge the Tesla Gigafactory in Mexico to be the first of its kind in Latin America if planning delays at Tesla’s facilities continue.
In 2028 the factory will have capacity of 5GWh, to correspond with the expected growth of the market to 45GWh in 2030. The major off-takers would be producers of trucks and buses and the electric sector overall. Increased demand for the light vehicle industry is also foreseen.
BMC CEO Eduardo Javier Muñoz said: “We are excited about this historic collaboration which will not only boost the local economy but also position Brazil at the forefront of technological innovation in the lithium battery sector.” The project will create thousands of jobs and promote sustainable economic growth, he added.
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Publish date : 2024-08-08 21:40:00
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