By 2024, Chinese electric vehicle manufacturer BYD has set a goal of selling approximately 30,000 units as part of its electrification and carbon neutrality strategy.
The Asian giant is also focusing on Latin America with the announcement that in 2023 it will begin marketing its cars to individuals in Mexico, according to a report by Reuters.
BYD, which has been selling units to companies in Mexico for almost a decade, will offer electric versions of its Tang sport utility vehicle (SUV) and its Han sedan locally next year through seven distributors, said the Director of the company’s Mexican unit, Zou Zhou.
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Targets Set
According to Reuters, the world’s largest electric vehicle manufacturer by sales volume expects to market 10,000 cars in Mexico and between 20,000 and 30,000 by 2024.
Zou Zhou explained that the company’s long-term plan is to reach around 10% of the overall car market.
Zhou also reported that the company intends to sell cars through 15 authorized dealers by the end of 2023 and reach 40 by 2024. The Mexican department store chain Liverpool will also sell them, according to the Asian company.
BYD did not specify the initial prices of its vehicles in Mexico; however, the brand’s executive emphasized their affordability. “We are the brand for everyone,” he said.
In September, the Chinese automaker set pre-sale prices in Europe for its Tanga and Han models at 72,000 euros, about US$ 72,500.
Figures in Mexico
Mexico, a major vehicle production center, is looking to convert 50% of automotive manufacturing to electric by 2030, offering incentives such as reduced sales taxes and import tariffs, incentives that Zhou says are a positive step.
According to the Mexican Automotive Industry Association, only 4.5% of the cars sold in the first eight months of this year were hybrids, or around 31,000 out of almost 693,000 shipped in total.
