EV maker BYD eyes state incentives for Mexico plant

The plant will produce 150,000 units in its first phase. — Reuters

MEXICO CITY: Chinese electric vehicle (EV) maker BYD has narrowed its list of finalists for the location of a manufacturing plant in Mexico down to three states and is reviewing a range of proposed incentives from them, the firm’s country head says.

Jorge Vallejo, BYD’s Mexico director general, told Reuters the company was reviewing the latest proposals by the candidate states, which have offered “many benefits” including fiscal, land, management and preferential pricing incentives.