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BYD is urging Mexico to extend its electric vehicle tariff exemption, riding the wave of growing popularity for the Shark NEV and Tang SUV. The government’s ruling is expected by October 1.
BYD Pushes for EV Tariff Relief in Mexico Amid Sales Surge
Import duties on electric vehicles (EVs) from Mexico have been extended at the request of BYD, the leading Chinese automaker.
BYD Lobbies for Tariff Extension
"Our intention is to explore the possibility of extending the decree through our investment in a new plant," explained Jorge Vallejo, country head of BYD in Mexico, speaking to Reforma.
A municipal authority decreed that electric vehicles imported from nations without trade agreements with Mexico would be exempt from tariffs ranging from fifteen percent to twenty percent, and BYD is requesting that this be lifted. Vallejo went over a number of alternatives proposed by BYD to replace the extension.
Shark NEV and Tang Lead BYD’s EV Lineup
An extension of the decree could be possible through the investment in a new plant, according to the approach with the federal government. We're waiting for a response from the government.
The incoming administration is expected to make a declaration regarding the decree on October 1. Once that happens, there will be more direct communication regarding the terms of an investment announcement and the benefits that would be awarded, according to Vallejo.
BYD’s Future in Mexico Hinges on Tariff Relief Decision
The recently released Shark NEV pickup truck, Tang SUV, and Han sedan are just a few of the vehicles sold in Mexico by the Chinese carmaker. According to Teslarati, earlier this year BYD was allegedly considering expanding into Mexico by setting up an electric vehicle manufacturing facility there.
At the time, Zhou Zhou was the BYD country manager, and he said that Mexico was a crucial market for the carmaker. In the future, the Chinese carmaker expects sales outside of China to constitute half of its overall revenue.
