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BYD may build electric vehicle factory in Mexico for US market (arstechnica.com)

submitted 8 months ago by [email protected] to c/[email protected]

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[–] [email protected] 3 points 8 months ago

This is the best summary I could come up with:

Factories are in various stages of planning or construction in Thailand, Hungary, and Brazil, and now, BYD is studying the feasibility of a factory in Mexico, potentially in Nuevo Leon, or perhaps the Baijo region in the middle of the country.

But building vehicles in Mexico would also mean BYD could take advantage of the US-Mexico-Canada Agreement, which would allow it to keep its prices lower.

That would be particularly advantageous if BYD plans to target the underserved lower end of the new car market.

BYD's EVs may not necessarily qualify for the full tax credit, as other parts of the law make an EV ineligible, depending on where its battery contents were sourced or if its battery was made by a Chinese-owned company.

The Alliance for American Manufacturing has gone so far as to call for a change to the USMCA "to ensure companies headquartered in a non-market economy like China cannot set up a factory in Mexico or Canada to gain preferential treatment."

And speaking about Chinese automakers last month, Tesla CEO Elon Musk said, "If there are no trade barriers established, they will pretty much demolish most other car companies in the world."

The original article contains 392 words, the summary contains 196 words. Saved 50%. I'm a bot and I'm open source!