China’s BYD pauses Mexico factory plans until after US election
Mexico could be a key production site for BYD, along with plants it is building or already operating in Brazil, Hungary, Turkey and Thailand
BYD was scouting three locations for a car production facility in Mexico but has stopped actively looking for now, several of the people said, asking not to be identified discussing information that is private.
The postponement is largely because BYD would prefer to wait and see the outcome of the race between former US president Donald Trump and vice-president Kamala Harris in early November, the people said. They added that BYD’s paused factory plans may still be revived or could change, and no final decision has been made.
BYD said in a statement to Bloomberg that it “has not postponed a decision on a factory in Mexico”.
“We continue working to build a factory with the highest technological standards for the Mexican market, not for the United States market, nor for the export market,” the company said in a statement attributed to executive vice-president Stella Li. “For BYD, the Mexican market is very relevant.”
One area that was under consideration was around the city of Guadalajara, one of the people said. That region has emerged over the past decade as a technology hub sometimes described as Mexico’s Silicon Valley. BYD sent a delegation to the area in March.
