Chinese automaker BYD Co Ltd. is considering the possibility of building a factory in Canada. This is reported by foreign media with reference to Vice President Stella Li.
The Canadian government is seeking to attract Chinese automakers and has agreed to exempt up to 49,000 Chinese-made electric vehicles from the 100% tariff imposed in 2024, which was a departure from the previous policy of restricting imports of Chinese cars.
In addition, BYD may be interested in taking over a large automaker, given the difficult market situation, which makes it difficult for some American, European and Japanese companies to remain competitive due to investments in the production of either diesel-powered cars or electric vehicles. BYD produces both electric and hybrid gas-electric vehicles.
Recently, some Western automakers have stepped up efforts to attract Chinese automakers to receive technological assistance and production facilities. In particular, Stellantis NV is considering the possibility of using the technologies of its Chinese partner Leapmotor and concluding deals with Chinese automakers for investments in Europe. Ford Motor Co. has held talks with Geely on the joint use of production facilities in Europe.
BYD's strategy calls for increased efficiency through vertical integration, allowing it to control most of the supply chain without setting up joint ventures and abandoning any plans to enter the US market due to high duties and a ban on the use of certain technologies in the US, which made it impossible to sell most mass-produced models in China.
At the same time, BYD is expanding the first European passenger car manufacturing center in Hungary and is considering the possibility of implementing a second project in Turkey. BYD plans to install 1,000 superfast charging stations in Brazil by the end of 2027.
BYD Co Ltd. is a Chinese conglomerate manufacturing electric vehicles, hybrid vehicles, rechargeable batteries and electronic components. The company includes car manufacturer BYD Auto and battery and electronics manufacturer BYD Electronic. Production facilities are located in China, Uzbekistan, Brazil, Thailand and Hungary. The headquarters is located in Shenzhen (China).
