This was reported by Reuters, as reported by Ukrinform.

BYD brand, known for its low-cost models and more diverse car series, recently surpassed its biggest rival Tesla and became the world’s largest electric car manufacturer by sales volume.

The facility project is in its early stages. Currently, BYD is preparing a technical and economic feasibility study for the facility and is in discussions with Mexican government units regarding the construction and operating conditions of the facility, especially its location.

Although BYD is actively working to increase international sales of automobiles produced in China, the company is also trying to expand to the world and is establishing new factories abroad.

Home to many of the world’s leading automotive players, Mexico’s massive automotive industry is closely integrated with the U.S. industry.

Last month, Tesla CEO Elon Musk said Chinese automakers would destroy their global rivals if they were not protected by trade barriers.

This assessment was confirmed by the authoritative American industry group Alliance of Automotive Innovation; It was stated here that it may eventually be possible for cheap Chinese cars, whose cost is lower, to enter the American market due to the subsidies given by the Chinese government to their manufacturers. It led to the demise of the automotive industry in the United States.

In Latin America, BYD is building a massive $620 million three-factory industrial complex on the site of a former Ford factory in northeastern Brazil.

As reported by Ukrinform, Tesla sold only one electric car in South Korea in January as demand was affected by a number of factors, from safety issues to price.

Photo: byd.com