The Chinese company BYD are considering installing a production plant in Mexicosince the manufacturer of electric vehicles (VE) aims to establish a export center to the United States.
BYDwhich surpassed its biggest rival tesla as the main EV producer in sales in the previous quarter, launched a feasibility study for the new factory and negotiates with government officials at various levels over location and other terms, Nikkei reported.
The Chinese firm, which has its sales concentrated on the asian giantaims to expand its global presence and is building new plants abroad, in addition to expanding the exports from China.
“Overseas production is essential for an international brand,” BYD Mexico CEO Zhou Zou told Nikkei.
In Brazil, BYD plans to spend 3 billion reais (about 605,94 million dollars) to build a plant, he detailed Nikkei.