Chinese electric carmaker BYD acquired mineral rights for two plots of land in a lithium-rich part of Brazil in 2023, entering the mining business in its biggest market outside of China, according to public records reviewed by Reuters.

The plots are located near BYD's new factory project in north-east Brazil, close to US-listed miner Atlas Lithium's holdings.

Chinese EV giant BYD (SZ:002594) has acquired mineral rights in Brazil, marking a major step into lithium mining in its largest market outside China. The acquisition, made in late 2023 through its subsidiary

BYD COMPANY (01211.HK) acquired mining rights in 2023 for two plots of land rich in lithium in Brazil, marking its entry into the largest market outside China for lithium mining, Reuters reported, citing public registration documents.