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China's BYD plans new electric vehicle plant in Mexico, says Nikkei

Reuters · 1y ago

China's BYD plans new electric vehicle plant in Mexico, says Nikkei

Chinese electric vehicle maker BYD is reportedly planning to establish a new manufacturing plant in Mexico, aiming to create an export hub to the United States. Following its rise as the top EV maker in terms of sales, BYD has launched a feasibility study for the new plant and is engaging in negotiations with Mexican government officials. The company, which currently focuses its sales in China, intends to expand its global presence and is also building a plant in Brazil.

Related News

Chinese EV giant BYD posts 62% jump in 2023 vehicle sales

Reuters · 1y ago

Chinese EV giant BYD posts 62% jump in 2023 vehicle sales

Chinese electric vehicle (EV) giant, BYD, reported a 61.9% increase in vehicle sales for 2023, selling approximately 3.02 million vehicles. Out of these, about 1.6 million were battery EVs and 1.4 million were plug-in hybrid EVs. In December alone, BYD sold 340,178 electric vehicles, including 190,754 battery EVs. The company has also announced plans to construct a new manufacturing plant in Hungary.

Chinese EV maker BYD exploring Mexico factory as entry to US Market

Livemint

Livemint · 1y ago

Chinese EV maker BYD exploring Mexico factory as entry to US Market

Chinese automaker BYD is reportedly considering setting up a factory in Mexico as part of its expansion into North America. The company, known for its electric vehicles (EVs), is exploring Mexican locations where it could manufacture cars and potentially export them to the US. Building cars in Mexico would allow BYD to bypass the heavy import tariffs imposed on vehicles imported from China. The move reflects China's growing enthusiasm for expanding its car industry into North America, despite potential political risks and concerns from rival automakers.

Why a Chinese gadget company can make an electric car and Apple can't

Economic Times

Economic Times · 4m ago

Why a Chinese gadget company can make an electric car and Apple can't

After nearly a decade of attempts, Apple abandoned its electric car project, which cost $10 billion. Meanwhile, China's Xiaomi successfully launched its first electric car after just three years, delivering 135,000 units, with plans to double production by 2025. Xiaomi leveraged China's robust electric vehicle supply chain, offering affordable, feature-rich cars like the SU7. Chinese EV companies, backed by government support, now dominate global battery production, exemplified by BYD and CATL's success.

BYD slows production, delays capacity expansion at China factories, sources say

Economic Times

Economic Times · 7d ago

BYD slows production, delays capacity expansion at China factories, sources say

BYD, China's leading electric vehicle manufacturer, has reduced production and postponed expansion at several factories due to rising inventory and slower sales growth. The company, which overtook Tesla as the top EV producer, has cut shifts and output by at least a third at some locations. Despite aggressive price cuts, sales fell short of targets, prompting cost-saving measures. These moves highlight challenges in China's competitive auto market, leading BYD to explore overseas opportunities to bolster sales.

Tesla's October China-made EV sales fall 2.6%; rival BYD sales up 5%

Economic Times

Economic Times · 1y ago

Tesla's October China-made EV sales fall 2.6%; rival BYD sales up 5%

According to the China Passenger Car Association (CPCA), Tesla's China-made electric vehicle sales dipped 2.6% in October, with 72,115 units delivered. In contrast, Chinese rival BYD experienced a 5% increase in passenger vehicle deliveries, reaching 301,095 units. Tesla's market share in China's EV segment decreased to 9.89% in Q3 from 12.98% in Q2, despite the company prioritizing sales over earnings in the country. Other domestic automakers, including BYD and Huawei-backed Aito, have made significant progress in the Chinese auto market.

China's BYD launches 3 EV models in Indonesia

Reuters · 1y ago

China's BYD launches 3 EV models in Indonesia

China's BYD, the world's largest electric vehicle manufacturer, has introduced three battery EV models in Indonesia in an effort to expand its presence in Southeast Asia. BYD overtook Tesla in Q4 2023 as the top EV maker, with the majority of its sales in the Chinese market. In Southeast Asia, BYD has been outperforming competitors in EV sales due to affordable models and partnerships with local distributors. The company will now sell the Dolphin hatchback, Atto 3 SUV, and Seal sedan in Indonesia.

BYD India plans to retain the top brand tag in the luxury electric car market

Thehindubusinessline

Thehindubusinessline · 1y ago

BYD India, a subsidiary of global electric vehicle manufacturer BYD, aims to dominate the luxury electric car segment in India above the ₹30-lakh category. As part of its strategy, the company will introduce the luxury electric sedan, Seal, in India. BYD aims to compete with established German automakers like Mercedes-Benz and BMW in the premium electric car market. The company already sells two electric models in India and plans to expand its product portfolio and dealership network. Despite being a major global player in the electric car market, BYD also sees potential in the mass market segment in India in the coming years.

Reliance Infra Eyes EV Foray, To Make Electric Cars & Batteries

Inc42 · 9m ago

Reliance Infra Eyes EV Foray, To Make Electric Cars & Batteries

Reliance Infrastructure is seeking partnerships, including with Chinese companies, and aims to finalize its plans within the next few months. The company has hired Sanjay Gopalakrishnan, a former executive at BYD India, to advise on its electric vehicle (EV) project. Additionally, external consultants have been engaged to conduct a "cost feasibility" study for establishing an EV plant with an initial production capacity of approximately 250,000 vehicles per year.

BYD's Thai distributor to triple EV dealerships, expand commercial offerings

Reuters · 1y ago

BYD's Thai distributor to triple EV dealerships, expand commercial offerings

The sole Thai distributor of BYD, the world's largest electric vehicle maker, plans to triple its dealerships in Thailand within two years. Rever Automotive, the distributor, aims to add 200 more dealerships by the end of 2025, expand its commercial vehicle offerings, and enter new passenger car segments. The move comes as BYD seeks to solidify its dominant position in the Thai market, which accounted for 20% of its international sales in Q3 2023. Thailand is one of the fastest-growing EV markets in Southeast Asia, benefiting from government subsidies and policies.

BYD debuts first pickup truck in Mexico

Livemint

Livemint · 1y ago

BYD debuts first pickup truck in Mexico

BYD, the world's largest electric vehicle manufacturer, has unveiled its first pickup truck, the Shark, in Mexico. Priced at 899,980 Mexican pesos ($53,407), the midsize luxury plug-in hybrid will compete with models from Ford, Toyota, and Nissan in Latin America's largest vehicle market. BYD's decision to launch the truck overseas instead of in China reflects limited domestic demand for pickups due to usage restrictions in major Chinese cities. The move is part of BYD's strategy to expand overseas as it faces intense competition and a price war in its domestic market.

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