BYD Flourishes In Mexico - CleanTechnica

The article highlights the rapid growth of BYD, the world’s largest electric vehicle (EV) manufacturer, in Mexico’s EV market despite recent tariff increases imposed by the Mexican government. BYD nearly doubled its sales volume last year and now accounts for about 70% of electric and plug-in hybrid vehicle sales in Mexico, where EVs make up roughly 9% of new car sales. Chinese automakers like BYD are capitalizing on opportunities in developing markets such as Mexico, which face infrastructure challenges and have lower income levels. Popular BYD models include the Dolphin Mini EV, priced around $21,000, and the BYD King plug-in hybrid, which competes closely in price with Tesla’s Model 3. Mexico’s government introduced tariffs on Chinese imports, including EVs, as part of efforts to reduce dependence on China, with tariffs averaging about 15% after initially being as high as 50%. However, industry insiders believe these tariffs will have limited impact on BYD’s sales