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byd

phoenix technology news, beijing time, september 4, according to bloomberg news, people familiar with the matter said that the possible change in us policy has forced global companies to wait and see.byd will not announce plans for major factory investments in mexico until at least after the u.s. election.

byd had previously been looking for three sites in mexico for a car production plant, but has now stopped actively searching, several people familiar with the matter said. the delay was mainly because byd wanted to wait and see the results of the election between former us president trump and current vice president harris in early november, the people said. however, byd's suspended factory construction plan may still be resumed or changed, and the company has not made a final decision.

byd said in a statement to bloomberg that it "has not postponed its decision to build a factory in mexico." "we are still working hard to build a factory with the highest technical standards for the mexican market, not for the u.s. market or export market," said li ke, executive vice president of the company, in a statement. "the mexican market is very important to byd."

one location byd had considered was the area around the city of guadalajara, the people said.in march, byd sent a delegation to explore the region, which has emerged over the past decade as a tech hub sometimes called mexico’s silicon valley.

in late august, li told bloomberg she planned to meet with mexico's incoming president, sheinbaum, at some point, and that the company was still scouting for three sites for its mexican factory.

currently, chinese and western automakers have announced investments in mexico, including tesla. however, tesla's planned super factory was temporarily shelved in july to wait for the results of the us election. us republican candidate trump has repeatedly threatened to impose tariffs on mexican-made products, and he has won the support of tesla ceo elon musk. tesla previously announced plans to build the factory in nuevo leon, northern mexico, and is expected to invest $10 billion in several stages.

although byd has said that all cars produced in mexico will be used for local consumption,but the prospect of exporting its affordable electric vehicles to a massive auto market like the united states would be enticing.mexico is a strategically attractive landing spot for foreign automakers due to its proximity to the united states. in addition, mexico has signed the north american free trade agreement with the united states and canada. (author/xiao yu)

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