From Investing.com:

China’s BYD Co Ltd is planning to open a new electric vehicle factory in Mexico to serve as an export hub to the United States. The company, which recently overtook Tesla as the world’s top EV maker, is conducting a feasibility study for the plant and negotiating with officials over terms. BYD aims to expand globally and boost exports beyond China. The move comes amid concerns from major U.S. automakers about the potential threat of Chinese cars to their business. Elon Musk, the CEO of Tesla, has warned that Chinese automakers could “demolish” global rivals without trade barriers. BYD also plans to invest $620 million in a new industrial complex in Brazil, aiming to strengthen its presence in Latin America. The complex will be built on land formerly occupied by a Ford plant that closed in 2021.



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