BYD wants to sell 100,000 EVs in Mexico next year as its North American presence expands

China’s leading electric vehicle maker, BYD, is expanding its North American footprint. Next year, it plans to sell 100,000 EVs in Mexico. BYD will also announce its first manufacturing plant in the region by the end of 2024.

BYD expands in the North American market with new EVs

After dominating in its home market, BYD is looking overseas to drive sales growth. BYD opened its first plant in Thailand in June and plans to open several more in Pakistan, Turkey, Brazil, and Hungary.

Rumors surfaced last year that BYD was considering its first facility in Mexico. BYD Mexico general director Jorge Vallejo recently confirmed the plans, saying the plant will create about 10,000 jobs.

It would be one of the largest auto plants in the region, on par with Volksagen’s Audi Puebla plant in Mexico.

According to Vallejo, BYD aims to sell 100,000 EVs in Mexico next year as it expands its North American presence. With plans to sell 50,000 EVs in 2024, BYD anticipates sales to double by next year.

Speaking at an event in Monterrey (via Reuters), Vallejo said BYD will announce its first plant in Mexico by the end of 2024.

First plant in Mexico is coming soon

The plant is scheduled to build 150,000 vehicles in its first phase, expanding to 300,000 in the second phase. Although no other details were revealed, BYD is looking for an extension on new tariffs on EV imports.

After launching sales last June, BYD already sells six EVs in Mexico, including the Dolphin mini (Seagull in China), Seal, and Yuan Plus. It also offers four hybrid models.

In May, BYD launched its first pickup, the Shark PHEV, in Mexico. The BYD shark will compete with top-selling trucks in the region, like Ford’s Ranger and the Toyota Hilux, starting at $53,400 (899,980 pesos).

BYD is also moving closer to selling EVs in Canada as it expands its North American footprint. The company has already met with government officials and inquired about opening retail sites in Canada.

Despite this, BYD North America CEO Stella Li said the company has no plans to sell passenger EVs in the US.

After selling over 400,000 vehicles in September, BYD topped its monthly sales record for the fourth consecutive month. With new facilities in key auto regions, BYD is laying the groundwork as it looks to gain global market share.