Mexico

China's BYD is expanding globally with plans for a major EV plant in Mexico. After successful ventures in Thailand, Israel, and Australia, BYD is boosting its South American presence. In Brazil, their affordable $20,000 Seagull EV saw outstanding sales, topping Brazil's EV market in Q1. The upcoming Mexico plant is expected to create 10,000 jobs and drive sales up to 50,000 vehicles this year. BYD's strategic moves position them well amidst shifting global EV markets.

Despite Tesla's recent pause on the Gigafactory Mexico project, Nuevo León remains optimistic. The state has secured permits and incentives, totaling $135 million, for the factory. While Tesla focuses on Texas, Nuevo León continues to prep infrastructure for the Gigafactory. Despite uncertainties, Nuevo León's secretary of economy believes Tesla is still on board, despite potential hurdles like US tariffs on Mexican-built electric vehicles. Stay tuned for updates on this unfolding Tesla saga.

BYD launches its $10K Seagull EV in Europe, causing a stir among rivals globally. The affordable electric car boasts Blade batteries and impressive CLTC range. Formerly dubbed the "mini Lamborghini," BYD’s Seagull impresses with sleek design and advanced features like a rotating center screen. Rivals like Ford are feeling the heat as BYD expands into new markets like Brazil and Mexico. BYD aims to disrupt Europe next with plans for even more affordable and high-end electric vehicles, sending shockwaves through the industry. Source

BYD introduces the Shark, its first plug-in hybrid pickup truck, in Mexico to challenge American and Japanese rivals. With 430 horsepower and a 62-mile electric range, the Shark aims to make a splash in the global market, including Brazil, Europe, and Australia. Priced competitively against Ford Ranger and Toyota Hilux, the Shark combines power and eco-friendliness with features like bidirectional charging and Blade battery technology. BYD's bold move signals intent to expand despite looming American tariffs. Source