BID carries out ambitious growth strategy which concerns not only the European market. As you know, in addition to China, the automaker has already chosen countries such as Uzbekistan, Thailand, Brazil and Hungary for its new car plants.
Apparently, BID would put Mexico in the crosshairs where could he go build a new plant create hub for export to the USA. According to Japanese newspaper Nikkei, citing Zou Zhou, regional manager of BYD in Mexico, the automaker feasibility study has already begun for the Mexican plant and is already in talks with the government on various aspects of the project.
Zou did not say where BYD might build its plant, but the northern state of Nuevo Leon and the Bajio region in central Mexico appear to be prime candidates. Other possible options also include the Yucatan Peninsula.
The plant in Mexico will allow BYD reduce the cost of exports towards the USA. It would also allow the automaker to bypass the Inflation Reduction Act (IRA) hurdle.
As BYD’s regional manager for Mexico explains, manufacturing abroad is essential for an international brand. It remains to be seen whether BYD will actually build a new manufacturing plant in Mexico, the same country where Tesla also intends to build its own Gigafactory.
However, it seems clear that the Chinese car manufacturer is leaving nothing to chance and has clear ideas about becoming an increasingly important reality internationally.
As for Europe, we remind you that the plant will be built in several stages and will be operational in 3 years. We still don’t know which models will be built. The plant will also allow BYD to avoid any tariffs imposed by the European Union following an ongoing investigation into Chinese electric vehicles.
Source: HD Motori
Ashley Fitzgerald is an accomplished journalist in the field of technology. She currently works as a writer at 24 news breaker. With a deep understanding of the latest technology developments, Ashley’s writing provides readers with insightful analysis and unique perspectives on the industry.