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BYD is set to establish a factory in Mexico, creating an estimated 10,000 jobs. The factory will mainly supply the Mexican and Latin American markets. BYD aims to achieve a sales target of 50,000 vehicles in 2024 and aims to be in the top ten of the Mexican automotive market.
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EqualOcean reports that Jorge Vallejo, General Manager of BYD Mexico, has announced that the final stage of site selection for BYD’s Mexico plant is near completion, with an official announcement expected within the year. This plant will create over 10,000 local jobs, making BYD the first Chinese car manufacturer to build a factory in Mexico.
In May this year, BYD debuted its first new energy pickup, the BYD SHARK, in Mexico. Following the launch, BYD Vice President Li Ke discussed the company's plans to build a factory in Mexico. Li Ke stated that BYD has no plans to enter the US market, so the products manufactured at this plant will primarily serve the local Mexican market and extend to the Latin American market, but not the United States.
As one of the most important markets for Chinese automotive exports, BYD has ambitious goals in Mexico. This year, BYD aims to sell 50,000 vehicles, doubling monthly. By 2025, the goal is to double this figure to over 100,000 units, aiming to become one of the top three in both electric and traditional vehicle sales in the Mexican market.
Compared to other car manufacturers with factories in Mexico, such as Audi, a plant of this scale will employ more workers. Currently, Volkswagen's plant in Puebla is Mexico's largest, with 6,100 assembly line workers, 5,000 management staff, and thousands more responsible for assembling components.
Since 2024, similar to Brazil, Mexico's new energy market has experienced explosive growth, with first-quarter sales increasing by over 440% year-on-year, largely driven by Chinese car brands. In 2024, seven Chinese car brands entered the Mexican market.
However, BYD remains the first to build a factory locally. In terms of sales planning, BYD's sales target for early 2024 in Mexico is 50,000 units. Jorge Vallejo expressed confidence in achieving this target. In 2023, Ford ranked 10th in the Mexican light vehicle market with 47,968 units sold, indicating that BYD's small goal for 2024 is to break into the top ten in the Mexican automotive market.