BYD delivers the first train set for Sao Paolo's Gold Line monorail project.
What's interesting about this deal for me is the inefficiency of democracies. This monorail project was supposed to be completed by the 2014 FIFA World Cup. Now it's supposed to open in 2026, more than a decade, and 2 World Cups later. Why? Due to contract disputes, lengthy court battles, environmental approvals, and I suspect, a good amount of corruption and political nonsense.
The original train sets were supposed to be delivered by Scomi, a Malaysian monorail manufacturer. They had a track record of supplying monorail cars to Brazil before, as well as India, Indonesia, and it's home country, Malaysia. Scomi was terminated for non-performance in 2019, due to "financial troubles". Scomi is something like a Larsen & Toubro or Adani Group for Malaysia. The company is ostensibly "private", but it has deep ties with the Malaysian govt and a number politicians. It has the license to be as inefficient and uncompetitive as it likes, and the Malaysian govt will just keep propping it up. Because of Malaysian companies like Scomi, I kinda understand how the big Indian companies are gonna behave. Bereft of morality, competitiveness, and vision. That is why Malaysia is already deep in the "Middle Income Trap", and also why India is heading there too.
This BYD monorail deal is yet another example of China having to do nothing and win. Because most of the democracies are screwing up.