China's automaker BYD is planning to invest US$89.8 million to build an EV (electric vehicle) bus factory in Campinas, Sao Paulo state, Brazil, reported Nikkei on July 17. The plant, which is BYD's first production facility in Latin America, is slated to begin operation in 2015, with an annual capacity of 1,000 electric buses and required batteries. The plant will also serve as a R&D base for solar cell and smart grid technologies. By setting up local production site, BYD aims to reduce tariff costs and win local government's EV bus orders, said the report.