During a recent interview, Jorge Vallejo, the General Manager of BYD Mexico, shared the company’s ambitious sales targets for the upcoming years. “We anticipate selling 50,000 electric vehicles in Mexico this year, with a goal of reaching 100,000 by 2025,” he stated.

Looking ahead, Vallejo indicated that BYD plans to announce the location of its first factory in Mexico by the end of this year. The initial phase of the factory is expected to have the capacity to produce 150,000 electric vehicles annually, with plans for future expansion to 300,000 units.

With the upcoming departure of President Andres Manuel Lopez Obrador, a significant trade regulation allowing electric vehicles imported from countries without trade agreements to be exempt from a 15% to 20% tariff expired at the end of September this year. BYD, which began selling imported electric vehicles in Mexico in 2023, is currently pursuing an extension of this tariff reduction policy.

In his conversation with Reforma, Vallejo explained that BYD has proposed to the Mexican government that they consider extending the tariff exemption in exchange for the company’s investment in a new factory, which could create approximately 10,000 local jobs.

Alternative options on the table include tariff exemptions, preferential tariffs for the company, or implementing a quota system for tariffs.