BYD Mexico Plant in Limbo After Trump Win [Op-ED]
BYD’s plans for a car plant in Mexico may be in limbo after Donald Trump became the next President of the United States.
On Thursday, November 28, the President of Mexico, Claudia Sheinbaum, shared that BYD has not issued a “firm” project proposal to establish a car plant in the country, reported Bloomberg. Before Trump became the United States’ next President-elect, BYD appeared to be preparing to build an EV car plant in Mexico.
In February 2024, BYD reportedly started looking at sites in Mexico for overseas production. By May 2024, The Chinese automaker launched the BYD Shark NEV in Mexico, hoping to expand sales of the new energy vehicle in North America and Australia.
Two months ago, BYD requested an extension on electric vehicle (EV) tariffs from the Mexican government.
“The proposal to the Mexican government is to see the possibility of, through our investment in a new plant, having the conditions to extend the decree,” said BYD’s country head, Jorge Vallejo, at the time.
However, progress on a potential BYD car plant in Mexico seems to have come to a halt after Trump’s triumph in the 2024 US Presidential elections. The Chinese automaker is likely waiting to see if Trump will impose higher tariffs on imports from Mexico.
US President-elect Donald Trump has suggested he would impose 25% import duties on goods from Mexico if the country does not stop drugs and migrants from crossing the border into the United States. Trump proposed tariffs as high as 35% on imports from China.
The Mexican government has threatened to impose tariffs on US goods if Trump enforces 25% duties. Mexico’s President Sheinbaum talked with President-elect Trump and stated they had a “very kind” phone call. After their conversation, Sheinbaum stated “there will not be a potential tariff war.”
However, BYD is still in a precarious situation. Even if Trump does not impose 25% tariffs on goods from Mexico, he could decide to implement tariffs on goods from China, affecting BYD.
If you have any tips, contact me at maria@teslarati.com or via Twitter @Writer_01001101.
The post BYD Mexico Plant in limbo after Trump Win [Op-ED] appeared first on TESLARATI.
Source: https://www.teslarati.com/byd-mexico-plant-stall-trump-win/
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