From Nasdaq:

Chinese electric vehicle maker BYD Co Ltd is planning to establish a new manufacturing plant in Mexico, according to a report from Nikkei. The company aims to use the plant as an export hub to the United States, as it looks to expand its global presence and sales. Negotiations with government officials are ongoing for the location and terms of the new plant.

BYD, which is the top EV maker in terms of sales, is also building new plants overseas and expanding exports from China. The company’s country manager for Mexico, Zhou Zou, emphasized the importance of overseas production for an international brand. In addition to the Mexico plant, BYD plans to spend 3 billion real ($605.94 million) to build a plant in Brazil, signaling its commitment to expanding its presence in Latin America.

The expansion plans signify BYD’s determination to establish a presence in key global markets, with the company’s focus on building a new facility in Mexico and Brazil, as reported by Nikkei. The move comes as BYD looks to capitalize on the growing demand for electric vehicles in the United States and Latin America, reflecting the company’s ambitious growth strategy in the region and beyond.



Read more: China’s BYD plans new electric vehicle plant in Mexico, says Nikkei