US EditionTrump Pressure Pushes BYD Out of Mexico
MEXICO, JUL 2 – BYD halted its Mexico factory plans due to U.S.-China trade tensions and tariffs, while launching a Brazil plant aiming to produce 150,000 cars annually, company officials said.
- BYD, the world’s largest electric vehicle manufacturer, has paused its efforts to establish a significant factory in Mexico as of 2024, citing geopolitical challenges and concerns related to U.S. trade policies.
- The decision followed delays by China's Ministry of Commerce in approving the Mexican plant and concerns over US tariffs and proprietary technology exposure amid US-China trade frictions.
- Before halting, BYD identified three potential Mexican sites, planned an annual capacity of 150,000 vehicles, and anticipated creating 10,000 jobs while monitoring the US election outcome.
- On July 1, 2024, Executive Vice President Stella Li indicated that BYD is still considering growth opportunities in the Americas but has not set a specific timeline, emphasizing that global political factors are significantly influencing decisions within the automotive sector.
- BYD's pause illustrates how political and trade uncertainties reshape global manufacturing, marking Mexico's challenges as an EV hub and driving BYD to open its first factory outside Asia in Brazil instead.
29 Articles
29 Articles
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BYD Puts Mexico Car Plant on Hold Due to U.S. Trade Tensions
BYD, the top electric car maker from China, has stopped its plans to build a new factory in Mexico. The company made this decision due to rising trade tensions between the United States and China. New U.S. tariffs have also made it riskier and more expensive to produce cars in Mexico. BYD had looked at […]
Trade Uncertainties Pause BYD's Plan for Mexico Production Facility - Real News Now
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