BYD confirmed that it is moving forward with its plans to construct a factory in Mexico, despite statements from the president-elect of the United States about the possibility of imposing tariffs on Mexico and China.
A publication from Global Energy details that in response to rumors suggesting a possible indefinite suspension of its projects, BYD denied such claims, assuring that its plan remains intact.
Ray Zou, the president of operations for the company in Mexico, reiterated the company’s interest in the Mexican market and noted that the factory will produce vehicles intended primarily for the domestic market, excluding exports to the United States.
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Factory characteristics
The factory is designed to produce 300,000 vehicles annually and is expected to generate more than 10,000 jobs. Although the exact location has not yet been disclosed, the company is in talks with local authorities and has narrowed the options to three states.
Regarding its business plans, BYD plans to sell 50,000 electric vehicles in Mexico during 2024, with expectations to double this figure in 2025.
Recently, BYD introduced the electric SUV BYD Yuan Pro, with an initial price of 599,880 pesos.
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After a successful 2024 tour, Latam Mobility consolidates itself as the most important sustainable mobility community in Latin America, by generating synergy among the actors involved to massify decarbonization.
In 2025, the Invest In Latam network will continue its impact in the region with confirmed meetings in Colombia, Brazil, Chile and Mexico.
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