China's leading electric vehicle (EV) manufacturer, BYD, is exploring the possibility of establishing an EV plant in the Mexican state of Jalisco, with an estimated cost of around $600 million, similar to its investment in its EV facility in Brazil. This move comes as BYD faces challenges in its overseas expansion, including in Europe, where it aims to triple its market share despite encountering issues like weak demand and quality-control problems. Meanwhile, the global EV market is experiencing a slowdown, with sales in China starting 2024 with a decline and price cuts. Tesla, another major player, has not seen the expected results from its price reductions in China, losing sales to domestic brands. Additionally, Tesla is looking towards Southeast Asia expansion as BYD advances. Other automakers like Porsche are also making strides in the EV market, with strong orders for its new electric Macan.
Daily EV recap: Tesla offers early CT deliveries to select shareholders, Porsche to launch new EVs https://t.co/90L02K9UHt
A fuck load of Teslas just arrived in Netherlands 🇳🇱 https://t.co/6R0ehCtmyj
But EVs are dead: “Volkswagen Group and Porsche brand CEO Oliver Blume said today that early orders of the newly electric Macan have far exceeded expectations, and the numbers aren't even in yet for some of its biggest potential markets.” https://t.co/0Q0V4nt2jv
A @Tesla @cybertruck pulling into a gas station is just making fun of you https://t.co/MyICW802WK
A @Tesla @cybertruck pulling into a gas station is just making fun of you https://t.co/CxskBjGN5o
BYD Is Going for Global EV Leadership Here's a breakdown of how #BYD has been growing so rapidly around the world. It's a pretty standard China-to-the-world manufacturing strategy We've seen this strategy for about 20 years. #ev #china #auto https://t.co/nO9yIWnHcd
Global electric car sales in February hurt by China's New Year celebrations https://t.co/v3UEnGb1wM https://t.co/GWnNJ23wxm
Chinese automaker BYD aims for a 5% share of Europe's EV market pre-launch of new Hungarian plant. #BYD https://t.co/MIvgrHdImU
This sign is conveniently placed to face Tesla Supercharger in Chino Hills. https://t.co/HzEpI13nXr
CHINA’s electric vehicle sales hit problems in export markets: https://t.co/vX1Hxpzlff
Caixin Analysis: Mounting Competition in China Comes at a Bad Time for Tesla https://t.co/El2qQqGT9m
Tesla official talks up Southeast Asia expansion as China's BYD pulls ahead https://t.co/Ny3LBYaDyc
BYD is 'just getting started' in Europe with plans to triple its EV market share https://t.co/URknCRA4Yq by @EVPeteJohnson
Porsche sticks to EV sales target with new electric Macan already seeing strong orders https://t.co/BG3TLPrZHT by @EVPeteJohnson
China’s smartphone makers can find an edge in cars as Apple retreats https://t.co/RsEL9jcgdN | opinion
"Having Overtaken Tesla, BYD Is Running Into Problems Overseas: Chinese EV maker sees vehicles pile up amid weak demand, quality-control issues and internal tension" https://t.co/3FD5U6Khdk via @WSJ
BYD is running into challenges in its overseas expansion, finding that its rapid growth at home doesn’t necessarily translate into quick success in big foreign markets such as Europe. @selina_cheng @riverakiradavis @raffaelehuang https://t.co/Q9dQjBUbgb https://t.co/Q9dQjBUbgb
BYD has taken the EV industry by storm. But its overseas expansion is running into problems. https://t.co/dLTN9xfW1k
BYD to slash EV prices even more with new platform as it looks to crush ICE car sales https://t.co/e6PM32RG0h by @EVPeteJohnson
Apple and Tesla feel the pain as China opts for homegrown products https://t.co/GAho25xWxR
#Tesla's vehicle price cuts in #China haven't achieved the company's desired results as it continues to lose sales to domestic #EV brands. https://t.co/eCrWNgpOsz
China's EV Market Starts 2024 With BEV Sales Slowing And Even More Price Cuts https://t.co/tpL4sAaW5D
#ICYMI China's top EV maker #BYD sent a delegation to the Mexican state of Jalisco to consider building an EV plant there. The cost of building a Mexico plant would likely be around $600 million, which is similar to what BYD paid for its EV facility in Brazil.-Bloomberg… https://t.co/Pxri61iZm6