- Due to geopolitical tensions and uncertainties stemming from Trump’s trade policies, BYD has put on hold its plans to build a major factory in Mexico, according to Bloomberg.
- BYD remains interested in expanding in the Americas, but there is no timeline to make a new investment, a senior executive said.
Due to geopolitical tensions and uncertainty caused by US President Donald Trump’s trade policies, BYD (HKG: 1211, OTCMKTS: BYDDY) has put on hold its plans to build a major factory in Mexico, Bloomberg reported today.
BYD executive vice president Stella Li said in an interview in Bahia State, Brazil, on Tuesday that the company remains interested in expanding in the Americas but has no timeline to make a new investment, according to the report.
«Geopolitical issues have a big impact on the automotive industry,» Li said. «Now everybody is rethinking their strategy in other countries. We want to wait for more clarity before making our decision.»
In February 2024, Zou Zhou, manager of BYD Mexico, said the company was considering setting up an electric vehicle (EV) factory in Mexico.
According to a Bloomberg News report last September, BYD had been scouting three locations in Mexico for a new car plant but halted active searching last year while waiting for the outcome of the US presidential election.
In March this year, the Financial Times reported that the Chinese government had delayed approving BYD’s factory in Mexico due to concerns that the company’s smart car technologies could be leaked across borders to the US.
The Chinese government prioritizes projects in countries participating in its Belt and Road infrastructure development initiative, the Financial Times cited a source as saying at the time.
On July 1, BYD’s passenger vehicle factory in Brazil began operations, marking the Chinese new energy vehicle (NEV) maker’s first such facility outside Asia.
The company’s passenger vehicle factories in Uzbekistan and Thailand are already operational, and it is currently constructing or planning new factories in Hungary, Turkey, and Cambodia.
