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.

The EV producer's mineral rights acquisition in Brazil is its biggest step yet toward mining strategic minerals in the West.

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