BYD searching for a Mexican plant

BYD, a Chinese electric automaker, is searching for a place in Mexico to establish a plant to increase sales in this region, Stella Li, general manager for the Americas, told Reuters on Wednesday.

By the end of the year, according to Li, the business hopes to select a location for the facility, which will have a capacity of 150,000 cars annually.

He continued by revealing that BYD has been meeting with representatives from several states and that monthly sales in Mexico are tripling.

Less than a year has passed since the Chinese business began selling automobiles in Mexico.

Executives from the company earlier on Wednesday said that BYD will start charging 358,800 pesos ($21,026 USD) for its Dolphin Mini electric vehicle (EV) in Mexico.

At a Mexico City launch event, Li stated that the goal of the automobile is to blend technology with a cost that is affordable for Mexican buyers.

In the fourth quarter of 2023, BYD outsold competitor Tesla in the sales of electric vehicles, and the company has slashed the costs of its most recent models in China.