- In contrast to nearby Canada and the U.S., BYD is hoping to sell 100,000 electric vehicles in Mexico throughout 2025.
- It is also targeting 50,000 EV sales in the country, before the end of this year.
- The rise in sales will partly come from a new Mexico-based factory, able to produce BYD’s electric models.
BYD expands in The Americas
BYD has been selling EVs in Mexico since 2023, when the first Atto 3 (known locally as the Yuan Plus) models were delivered to the country, and now sells six specific BEV models in the country, along with four PHEV models. This new target for next year came from Mexican General Manager at BYD, Jorge Vallejo, noting that the company is on track to sell 50,000 EVs in Mexico before the end of the year – before aiming to double that figure throughout 2024. This increased sales figure also exists as part of BYD’s goal to have 50% of vehicle sales coming from overseas, by 2030. A location for a planned Mexico production site will also be outlined later this year, though the facility is expected to take a couple of years to go live.
The large number of BYD EVs hitting Mexico’s streets is in stark contrast to the U.S. and Canada, with the manufacturer previously exploring a market entry in the latter region – until 100% tariffs against Chinese-made EVs likely made this unfeasible. However, with this BYD EV factory planned for Mexico, there’s still an opportunity for it to expand into those two countries, while avoiding high tariffs. However, there’s been no indication that BYD EVs are coming to the U.S. anytime soon. That’s not to say that U.S. awareness of the brand isn’t increasing however, with Mexican BYD EVs often spotted in U.S. states bordering the country, as people drive their EVs over for tourism.
