BYD, the largest electric vehicle manufacturer in China, announced that it has canceled plans to build a factory in Mexico due to geopolitical tensions and uncertainty arising from President Donald Trump’s trade policies.
The company remains interested in expanding in Latin America, but for now, there are no plans for new investment, as announced by BYD’s executive vice president, Stella Li, in statements made in Brazil during the inauguration of BYD’s first factory outside Asia.
“Geopolitical issues have a significant impact on the automotive industry,” said Stella Li. “Now, the entire sector is rethinking its expansion strategies. We want to wait to have greater clarity before making a decision.”
