BYD shelves Mexico factory plans, Bloomberg reports

Chinese electric vehicle maker BYD (1211) has shelved plans to build a large-scale factory in Mexico, citing geopolitical tensions and uncertainty stemming from former US President Donald Trump’s trade policies, Bloomberg reported.

The company remains keen to expand its footprint in the Americas, though no new investment timetable has been set. executive vice president Stella Li Ke said in a Tuesday interview.

Li emphasized that geopolitical factors heavily impact the auto industry, prompting many firms to reassess their strategies abroad.

BYD intends to wait for clearer conditions before making further decisions, she added.

STAFF REPORTER