Chinese electric-vehicle maker BYD said on Tuesday it will launch its cars in Mexico next year, with a senior executive pegging its sales target at up to 30,000 vehicles in 2024.
Next year, BYD will begin selling fully electric versions of its Tang sport utility vehicle alongside its Han sedan through seven dealers across Mexico, the company's country head Zou Zhou told Reuters ahead of the announcement.
As per Mexico's Automotive Industry Association, just 4.5% of cars sold in the first eight months of this year were hybrid, or around 31,000 of nearly 693,000 sold in total. In September, BYD had set pre-sale prices for its Tanga and Han models at 72,000 euros in Europe. Few Mexicans make more than $10,000 a year, according to the country's statistics agency.
The company's announcement comes as Mexico, a major car producing hub, looks to make EVs more affordable by cutting sales taxes and import tariffs — moves Zhou said marked a positive step.
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