Home » BYD’s Bet on Mexico: A New Player Emerges in the Electric Vehicle Market

BYD’s Bet on Mexico: A New Player Emerges in the Electric Vehicle Market

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BYD’s Bet on Mexico: A New Player Emerges in the Electric Vehicle Market

BYD, the Chinese electric car manufacturer, is making big moves in Mexico as it announces plans to sell its Dolphin Mini electric vehicle in the country and establish a factory to boost sales. The company recently surpassed Tesla in electric vehicle sales in the last quarter of 2023, highlighting China’s growing dominance in the global market.

With plans to build a factory in Mexico with a capacity of 150,000 cars per year, BYD aims to solidify its presence not only in Mexico but also as a gateway to the United States and Canada. This move could help the company navigate a difficult geopolitical environment and protectionism while expanding its global reach.

Experts believe that expanding in Mexico will help BYD gain traction in the American continent and avoid high import tariffs. Under the USMCA agreement, Mexico offers a competitive advantage for Chinese automakers due to lower labor and transportation costs.

BYD also announced the launch of its Dolphin Mini electric vehicle in Mexico, priced at 358,800 pesos ($20,990). The affordable electric car aims to make electric vehicles accessible to every Mexican consumer with a range of 300-380 kilometers per charge and fast-charging capabilities.

Overall, BYD’s expansion plans in Mexico reflect a larger global strategy to establish a strong presence in the electric vehicle market and challenge traditional players like Tesla.

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