Chinese electric vehicle manufacturer BYD, which plans to build a plant in Mexico, negotiated with authorities to extend a decree that eliminates 15-20% tariffs on electric vehicle imports from countries with which Mexico does not have a trade agreement.
It should be noted that the decree expired after four years on September 30. In this regard, the Head of BYD Mexico, Jorge Vallejo, told Reforma newspaper that they have had some conversations not only for the expansion issue, but also for the investment in a manufacturing plant with the creation of more than 10,000 jobs in the country.
“The approach precisely with the Federal Government is to see what would be the possibility that, through investment in a new plant, there could be conditions to expand the decree. We are waiting for the government’s response,” he added.
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New Government
Vallejo also revealed that they are waiting for the new administration to pronounce itself on the decree and, based on that, to have a more direct management to know the conditions of an investment announcement and the benefits that would be granted.
However, even if the decree is not extended, the investment in the plant would be maintained, according to Vallejo.
BYD has not yet announced the location of the plant, which should produce between 150,000 and 200,000 electric and hybrid electric vehicles in the first stage, and another 200,000 in the second, all for the domestic market.
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The “Latam Mobility & NetZero Mexico” in Mexico City will bring together the most important companies and leaders in energy, transport, fuels, and mobility to showcase advancements and prospects in the industry in the country, the U.S., and the region.
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