What happened:

A big electric car company in China called BYD is planning to sell a lot of electric cars in Mexico, hoping to sell 100,000 cars by 2025. They also want to build a factory there to make even more cars.

However, a man who used to be the President of the United States, named Donald Trump, said he wants to put a big tax on cars made in China and sold in Mexico if he becomes President again. This might make it harder for BYD to sell their cars in Mexico.

Why it matters:

Even with this potential problem, BYD is still trying to grow in Mexico and other countries because they want to sell more cars and make more money. Other big companies might also start selling more electric cars in Mexico and other places if BYD can do it successfully.

Image: An electric car made by BYD.

Credit: Shutterstock

Welcome to Benzinga! Here is what happened:

China's largest electric vehicle manufacturer, Build Your Dreams (BYD), is aiming to sell 100,000 electric vehicles (EVs) in Mexico by 2025. This comes as former US President Donald Trump vows to impose a 200% tariff on Chinese-made cars sold in North America if he wins the 2024 election.

The ambitious target was announced by Jorge Vallejo, BYD's head of operations in Mexico. The company plans to sell 50,000 EVs in Mexico this year, with the goal of doubling sales by 2025. BYD also intends to reveal the location of its first Mexican factory by the end of the year, which will initially produce 150,000 vehicles, with the potential for expansion to produce an additional 150,000 units.

According to Vallejo, BYD began importing vehicles to Mexico last year and is awaiting the outcome of the US presidential election to determine whether to make significant investments in the country. This cautious approach reflects the uncertainties posed by fluctuating American policies.

In July, Chinese EV manufacturers, including BYD, began exploring alternative markets such as Africa due to increased tariffs from the EU and US. These protectionist measures have prompted Chinese companies to diversify their market presence.

Despite these challenges, BYD has shown resilience, with analysts predicting a rebound in the Chinese EV market. BYD's aggressive global expansion and new model launches are expected to sustain its growth momentum, underscoring the company's strategic adaptability in the face of international trade challenges.

BYD's expansion plans in Mexico are part Read from source...

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Neutral

Disclaimer: The author has no stake in the mentioned securities.

The content of this article is not investment advice and should not be used as a basis for making an investment decision. The article is for informational and educational purposes only. Investment advice should come from a qualified professional. Please conduct thorough research before making any investment decisions.

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- As a new player in the EV market, BYD may face intense competition from established players such as Tesla and other EV manufacturers.
- BYD’s expansion in Mexico and other international markets could be impacted by potential tariffs imposed by the US government.
- The success of BYD’s plans to sell 100,000 EVs in Mexico by 2025 depends on the company’s ability to meet local demand and establish a strong market presence.
- BYD’s growth strategy may be affected by fluctuations in the global economy and the availability of resources such as raw materials and skilled labor.

These are just a few of the many factors that investors should consider before investing in BYD. As with any investment, it is important to conduct thorough research and seek advice from financial professionals before making any decisions.