by Warner Todd Huston, WesternJournal:
In a move that bespeaks of American decline in the face of a surgent China, the country of Brazil has announced a new deal with a Chinese company to revamp an abandoned Ford Motors factory to manufacture electric vehicle battery packs.
Ahead of his upcoming trip to China, socialist Brazilian President Luiz Inacio Lula da Silva is set to make the plans for Chinese tech company BYD’s takeover of the abandoned Ford facility a main part of his agenda for the the trip.
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The only hitch to the plan is the acquiescence from Ford to allow the property they still control to be given over to BYD. Ford closed the facility in 2021, according to Reuters.
In October, Chinese-owned BYD announced its plan to invest 3 billion Brazilian reals (approximately $570 million) to ramp up electric vehicle production in the Camaçari industrial area outside the country’s capital in Salvador. The company reportedly signed its deal with Brazil’s government at the end of last year.
The plan is to spread Chinese-made electric vehicles beyond Asia, where they currently outsell world EV leader Tesla.
The BYD deal is reportedly going to be a central part of his agenda as he visits Beijing, especially since Lula broke into politics after being a union man for Brazil’s auto industry, in particular in the face of cutbacks by Ford in the 1980s. At the time, Ford’s cutbacks were part of general fears that Brazil would lose its industrial base.
It is also a significant slap at the U.S. for the recently elected socialist president.
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