Chinese EV maker BYD eyes state incentives for Mexico manufacturing plant

22/8/2024 12:33

        Chinese electric vehicle maker BYD has narrowed its list of finalists for the location of a manufacturing plant in Mexico down to three states and is reviewing a range of proposed incentives from them, the firm's country head said on Wednesday.
        
        Jorge Vallejo, BYD's Mexico director general, told Reuters the company was reviewing the latest proposals by the candidate states, which have offered "many benefits" including fiscal, land, management and preferential pricing incentives.
        
        "A plant is not only about having the space, but the logistics, all the development, urban infrastructure that is generated, water, gas, everything that is needed for an automotive plant," he said.
        
        Mexico's federal government, under pressure from the U.S., is keeping Chinese automakers at arm's length by refusing to offer incentives such as low-cost public land or tax cuts for investment in EV production, Reuters reported in April, citing Mexican officials.