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China’s top automaker, BYD, is requesting an extension for its tariffs on electric vehicle (EV) imports from the Mexican government.
“The proposal to the Mexican government is to see the possibility of, through our investment in a new plant, having the conditions to extend the decree,” BYD’s country head Jorge Vallejo told Reforma.
BYD’s request relates to the local government’s decree to eliminate tariffs of 15%-20% on imported electric vehicles from countries that do not have trade agreements with Mexico. Vallejo discussed several options BYD has suggested as an exchange for the extension.
“The approach with the federal government is to explore the possibility of having, through the investment in a new plant, an extension of the decree… we await the government’s response.
“We are waiting for October 1 so that the new administration makes a statement about the decree and based on that we can have more direct contact to know the conditions of an investment announcement and the benefits it would be granted,” Vallejo explained.
The Chinese automaker sells several vehicles in Mexico, including its newly launched Shark NEV pickup truck, Tang SUV, and Han sedan. Earlier this year, BYD was reportedly looking to expand in Mexico by establishing an EV production plant in the country.
BYD country manager at the time, Zhou Zhou stated that Mexico was an essential market for the automaker. The Chinese automaker forecasts that the overseas market will account for 50% of its total sales in the future.
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