Posted 3/16/2024, 6:14:36 PM
China Automakers Expand into Mexico, Eyeing US Market
- China's vehicle exports to Mexico grew 50% in 2022, now accounting for 20% of light vehicles sold there
- Top brands selling China-made cars in Mexico include GM, Ford, BMW - they have plants in China
- Chinese brands like Changan and BYD are also entering the Mexican market directly
- BYD is exploring a $1.2 billion EV plant in Mexico with 150k annual capacity to boost regional sales
- Mexico sees Chinese automakers using it as a gateway to the US market long-term, though barriers exist