Chinese electric vehicle (EV) manufacturer BYD is reportedly exploring opportunities to invest in plants in Mexico, aiming to enter the US market by leveraging provisions in the US-Mexico-Canada Agreement. Despite a statement from a BYD executive indicating that the company is 'not planning to come to the US,' as reported by @AkikoFujita, other reports suggest that BYD is actively seeking a location for a plant in Mexico. This move is seen as a way to circumvent direct entry into the US market while still capitalizing on the growing demand for electric vehicles. Additionally, BYD has announced discounts on its electric vehicles, making them more affordable than some gas-powered equivalents offered by foreign competitors, a report by @jackycwong highlights. The developments come amid discussions on the Biden administration's Inflation Reduction Act, which has been criticized for potentially subsidizing Communist China's domination in the EV sector. However, skepticism exists regarding BYD's intentions to set up shop in Mexico due to its installed capacity in China and uncertain market access to the US.
Chinese automaker BYD looking for Mexico plant location, executive says - Reuters https://t.co/Rd5sLxMYKh
Chinese carmaker BYD looking for Mexico plant location, executive says https://t.co/tRZDin4Dej https://t.co/l142Qfa4Jr
Something I’ve been repeating ad nauseum on LinkedIn but probably not here, BYD (or any Chinese auto manufacturer) will never set up shop in Mexico. They have too much installed capacity in China and uncertain market access to US, so don’t be fooled by reports.
China’s EV Champion Is Coming for Your Gas Powered Cars, Too—China’s BYD has announced discounts that put prices below that of gas-powered equivalents built by some foreign competitors @jackycwong https://t.co/9CU1lnDDgB https://t.co/9CU1lnDDgB
Biden's Inflation Reduction Act will wind up subsidizing Communist China's domination of us: "Chinese EV maker BYD is exploring opportunities to invest in plants in Mexico that would enable it to enter the US market by exploiting provisions in the US-Mexico-Canada Agreement… https://t.co/jeHFXyAk6F
Tesla rival BYD 'not planning to come to the US,' exec says https://t.co/0fITKpvMyJ by @AkikoFujita