Home Business-newBusiness BYD is considering building a manufacturing plant in Mexico

BYD is considering building a manufacturing plant in Mexico

by Magali Alvarez
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The Chinese electric car company BYD (Build Your Dreams) is considering building a new plant in Mexico, but it will depend on market demand, said its global executive vice president, Stella Li.

“We do have the plan, but there is still a lot of work to be done, we require a very meticulous study of the market,” said the executive in an interview with El Sol de México.

In July, the company announced the construction of a plant in Brazil, the first in the continent, for which it will invest 620 million dollars.

Li explained that this complex will produce up to 300,000 units to supply the South American region and is part of the brand’s globalization strategy, which, in addition to Asia and Europe, also includes Mexico in its plans.

The company has already been operating in Mexico for 10 years, mainly with the sale of more than 500 electric trucks for companies such as Femsa, Lala and Bimbo, but now it wants to conquer the end consumer in a segment that is growing.

Regarding the agreement between North American leaders to reduce imports mainly from Asia, Li said it is not an issue that worries him, since with the opening of new plants BYD seeks to be a global company.

“In principle, the cars we offer in Mexico will come from China, but later if we see that there is a high demand, we will consider producing the vehicles here,” said the directive.

According to Li, Mexico has several advantages that make the country attractive for the electric vehicle market, including its population and economic growth, in addition to the potential of its cities for cleaner mobility.

“We see great potential for growth in the country, especially in places like Mexico City, which needs electric vehicles because there is a lot of traffic and pollution,” he said.

For the automotive segment to continue growing in the country and attract more investments, the executive considered that the government should create incentives for the industry and invest in infrastructure, mainly in charging stations.

Li pointed out that in China the electric car sector has shown annual growth of between 15 and 30 percent in recent years, largely as a result of the support provided by the authorities.

“China is the country with the greatest incentives for the purchase of electric vehicles, with cash bonuses for consumers, discounts on electricity consumption equivalent to 1,100 dollars, incentives for cab and truck fleets, as well as investments in charging stations,” he explained.

This Wednesday, the company launched its Dolphin models in the Mexican market, for which it expects to market between 20 and 30 thousand units in the next 12 months, said Li.

TYT Newsroom

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