New Delhi

Chinese electric vehicle manufacturer BYD has decisively rejected claims suggesting that there is a delay in its plans for a factory in Mexico. Stella Li, who leads BYD Americas, firmly stated that the company has not postponed any decisions regarding this significant project. She emphasized the importance of Mexico as a key market for BYD, highlighting the strategic value of establishing a manufacturing presence in the region. The upcoming plant is intended to produce vehicles specifically for local sales, rather than for export to the United States or other international destinations.

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On Tuesday, BYD issued a clarification to address the circulating rumors, asserting that it has not made any changes to its plans concerning the factory in Mexico. This statement directly contradicts an earlier report from Bloomberg, which suggested that BYD had slowed down its search for potential locations for the plant. The report also implied that the company would not announce its investment plans until after the U.S. elections in November, raising concerns about the timeline for the project.

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In response to these reports, Stella Li emphasised, "BYD hasn't postponed any decision about a Mexico plant." She elaborated on the company's commitment to the Mexican market, describing it as a "very relevant" area for BYD’s growth and expansion. Li reiterated that the new facility would focus on manufacturing vehicles tailored for local consumers, which aligns with BYD’s strategy to strengthen its foothold in key markets and respond to regional demand.

This commitment to local production reflects BYD's broader strategy of enhancing its manufacturing capabilities in regions where it sees significant growth potential. By establishing a factory in Mexico, BYD aims to not only cater to local demand but also to optimise its supply chain and reduce costs associated with importing vehicles. This move is part of a larger trend among automotive manufacturers to localize production in response to changing market dynamics and consumer preferences.

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Overall, BYD's stance underscores its determination to proceed with its ambitious plans in Mexico, reinforcing its position as a major player in the global electric vehicle market while also addressing the specific needs of the Mexican automotive landscape.