The expansion of Chinese EV manufacturers has been intensifying over the past few months. Now reports have it that these manufacturers are heading into Mexico with big plans to establish production factories in that region. This move will bring Chinese EV brands closer to the US, which has been placing tariffs on these vehicles to make them impossible to purchase.
Despite the opposition from the US, Chinese EV manufacturers are retailing their products in various South American countries. In these regions, the like of BYD are already retailing their electric options to potential buyers. Establishing factories in the region will help these Chinese EV manufacturers make their vehicles more accessible to buyers.
By establishing factories in Mexico, these manufacturers might be bringing their products to the doorstep of the competition. American EV brands like Tesla are already feeling the heat from these Chinese manufacturers. Now they should expect them closer to their home ground as their expansion goals stretch out to more regions in 2024.
While these manufacturers aim to expand into North America, their presence in the South might not be felt. Already the US has laws in place that aim to promote the sale of their domestic EVs and these laws will prevent Chinese EVs from making their way into the region. We might start seeing the likes of BYD making moves to kick off their manufacturing process in Mexico soon.
This year, there might be a lot of big moves from various Chinese EV brands in various regions. Mexico is just one of the regions where these brands aim to make big moves in this year. Over the next coming months, we’ll get to see how these brands will alter the EV industry as we know it.