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It turns out that BYD could build another plant

It turns out that BYD could build another plant

Zhou Zhou, president of BYD's local branch, said: Az In order to increase automobile exports to the United States, a new electric vehicle factory could be built in Mexico. Zhou also stressed the strategic importance of Mexico and the fact that production abroad is fundamental to an international brand.

The report shows that the company A feasibility study for a potential Mexican factory has already begun Negotiates with the relevant authorities about the potential location of the factory.

In the last quarter of 2023, BYD overtook arch-rival Tesla for the first time in terms of global electric vehicle sales. However, it is important to emphasize that the Chinese manufacturer's car sales are mainly concentrated in China, where foreign sales accounted for only 8% of its total sales.

BYD not only plans to invest in Mexico, but is also active in other parts of Latin America. In Brazil, for example, 3 billion Brazilian reais (about 219 billion HUF) were spent on building a new factory. The company continues to strive to strengthen its global presence, and as part of this, it is opening factories in Thailand this year.

In addition, the company announced last December that it would build its first European factory in Hungary. BYD will also produce electric cars in Szeged, and this project will be one of the largest investments in the history of the Hungarian economy, which will create thousands of new jobs.

Cover image source: UCG via Getty Images

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