Chinese electric vehicle (EV) manufacturer BYD aims to sell 50,000 EVs in Mexico by the end of 2024, with expectations to double that figure to 100,000 by 2025, the company’s Mexican head, Jorge Vallejo, announced on Tuesday. Vallejo also revealed that BYD will confirm the location of its first factory in Mexico by the end of this year.
Speaking at a forum in Monterrey, Mexico’s industrial hub, Vallejo shared that the planned factory will initially produce 150,000 vehicles in its first phase, with an additional 150,000 units in a second phase, though further details were not provided.
BYD, which began selling EVs in Mexico through imports last year, is now seeking an extension of tariff relief for EV imports in the country to support its growth in the market.
The factory will mark a significant step in BYD’s expansion in Mexico, a region where the automaker is seeing growing demand for its electric vehicles.
