China’s BYD looking for Mexico EV plant location, Americas CEO Stella Li says
- The Shenzhen-based EV maker expects to choose a location for the plant, which is set to have a production capacity of 150,000 cars annually, by the year-end
- US manufacturing advocacy group, Alliance for American Manufacturing, urges Washington to block the import of low-cost Chinese cars and parts from Mexico
Chinese electric-vehicle (EV) maker BYD is looking for a location in Mexico to set up a factory aimed at boosting the company’s share of the local market, BYD Americas CEO Stella Li said on Wednesday.
The company expects to choose a location for the plant, which is set to have a production capacity of 150,000 cars annually, at the end of the year, Li said.
BYD’s push into Mexico foreshadows a competitive threat the Shenzhen-based EV maker and others from China may pose to companies already operating in the US market, industry officials say.
A US manufacturing advocacy group, the Alliance for American Manufacturing, this month warned low-cost Chinese cars and parts could threaten the viability of car companies in the US. The group called on Washington to block the import of low-cost Chinese cars and parts from Mexico.
“The introduction of cheap Chinese autos – which are so inexpensive because they are backed with the power and funding of the Chinese government – to the American market could end up being an extinction-level event for the US auto sector,” the alliance said in a report.
Analysts say Chinese carmakers have been rapidly improving their vehicles and are even moving faster than global rivals in some areas, such as infotainment systems and autonomous driving.