Shanghai hit by rare Category 1 Typhoon Bebinca
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China's top electric vehicle maker, BYD, has denied rumours that it has paused its plans to build a factory in Mexico.
This response follows a Bloomberg report claiming the company was waiting for the outcome of the upcoming US elections before making a decision on the investment. According to the report, BYD had been considering three locations for the facility, but concerns over potential trade policy shifts under a different US administration had caused the company to hold off on announcing any decisions.
BYD’s executive vice-president, Stella Li, countered these claims, confirming that the company is still moving forward with the factory, which will cater specifically to the Mexican market. Li reiterated that the plant is not intended for exporting cars to the US but is part of BYD’s strategy to expand production within Mexico, a key overseas market.
The factory, when completed, will join BYD’s other global plants in Brazil, Hungary, Turkey, and Thailand. Amidst a surge in investment from both Chinese and Western automakers, including Tesla, Mexico remains a highly attractive site for production due to its proximity to the US and its role within the North American free trade agreement.
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