BYD to double amount of solar panels it makes in Brazil

BYD Co. Ltd’s marketing and sustainability director in Brazil has said the Chinese company intends to double its production of solar panels in Brazil, Reuters reports.

The news agency quotes Adalberto Maluf as saying he expects factories making solar panels in Brazil to increase their share of the Brazilian market to 35 percent in due course from 20 percent in 2019.

The report says Mr Maluf gave no target for BYD production of solar panels in Brazil.

The executive said his company had no need to invest much more in making solar panels, but would employ more workers to make them.

The Brazilian Chamber of Foreign Trade Brazilian abolished import duties on solar cells last month, and Mr Maluf said the cost of components for solar panels had fallen, Reuters says.