BYD Auto, the world-leading manufacturer of plug-in hybrids and electric vehicles, intends to construct a factory in Mexico that will export its goods to the United States among other markets, BYD Mexico CEO Zhou Zou said in an interview with Nikkei.
The company has already initiated a feasibility study and is in negotiations with the authorities regarding the destination for the industrial complex and other conditions. The exact location of the factory remains to be decided upon. Possible options include the state of Nuevo Leon in northern Mexico or Bajío Region in the center of the country.
Zhou Zou pointed out that an international vehicle brand needs an overseas production site to be viable. The factory may serve as an important exports hub for BYD. With the existing trade agreements between the North American states, shipping EVs to the United States should become much more profitable than it is now.
Zou also praised Mexico itself, saying the country was an important market for the company with lots of potential. BYD is already offering multiple EVs in the region, including Dolphin, Han, Tang, and Yuan Plus.
In January, BYD launched a production side in Uzbekistan. As part of its expansion policy, the company is also constructing factories in Brazil and Thailand. Both are scheduled for launch next year. In late January, the Chinese EV giant struck a land deal with the authorities of Szeged, Hungary, where it plans to build its first industrial complex in Europe.