MEXICO CITY (Reuters) - Chinese electric automaker BYD (SZ:002594) expects to sell 50,000 electric vehicles (EVs) in Mexico this year, and then 100,000 in 2025, the company's Mexican head Jorge Vallejo said on Tuesday.
The executive added that BYD will announce where it will build its first factory in Mexico by the end of this year.
Speaking at a forum in Mexico's industrial hub of Monterrey, Vallejo said the factory will produce 150,000 vehicles in a first phase, and another 150,000 in a second phase, but he did not go into further detail.
BYD is seeking an extension of tariff relief for EV imports in Mexico, after it last year launched sales in Mexico via imports.