August 26, 2024 – According to a report by Reuters on the 22nd, Jorge Vallejo, the general manager of BYD Mexico, revealed in an interview that the company has narrowed down the final location for its Mexican plant to three states and is currently evaluating a range of incentives offered by each candidate state.
He explained that these states have proposed various policies, including fiscal, land, regulatory, and preferential pricing incentives. “A factory not only requires space but also logistics, overall development, necessary city infrastructure, water, natural gas, and everything else a car factory needs,” Vallejo stated.
Vallejo added that BYD’s goal remains to finalize the plant location by the end of this year. The first phase of the Mexican plant will produce 150,000 vehicles, with an additional 150,000 in the second phase, and plans to increase capacity to 400,000-500,000 vehicles in subsequent years. However, the company has yet to decide which models will be produced.
In June of this year, Vallejo disclosed that BYD was in the final negotiation stage for the plant location and anticipated an official announcement within the next few months. BYD’s plan to build a factory in Mexico is expected to create approximately 10,000 local jobs, putting it on par with some of the largest automobile factories in Mexico.
Previous reports indicate that in March of this year, BYD sent a delegation to Jalisco, Mexico, to explore the possibility of building a car factory there. Stella Li, President of BYD Americas, mentioned that during the launch of the Dolphin Mini model (equivalent to BYD’s Sea Mew) in Mexico, the company visited multiple states to seek out business opportunities and contribute innovation and technology to the local area. Li clarified that BYD’s plant in Mexico is solely intended for local sales.
