Chinese automaker BYD has grown by leaps and bound as of late, and in fact, is aiming to sell four million vehicles in 2024, which would represent an 11 percent increase compared to its target from early this year. If BYD manages to reach that mark, it would come quite close to Ford’s 2023 global sales of 4.4 million units, which ranked it sixth among all automakers. However, there are a few roadblocks standing in the way of that rapid expansion – chiefly among them, tariffs, which have been imposed in a few places. Now, it seems as if tariffs may halt BYD’s plans to expand into Canada, at least for now.
According to Automotive News, BYD won’t be entering the Canadian market as previously planned following the implementation of a 100 percent tariff on imported Chinese EVs in that country. The automaker previously met with a variety of Canadian auto dealers this past summer as it sought to establish a distribution network for its models there, and even went so far as to approach lobbyists. However, when Canadian officials announced plans to introduce tariffs on Chinese imports this summer, those talks quickly came to a halt – leaving distributors in a bit of a holding pattern.
Previously, BYD has denied any interest in entering the U.S. market, though it’s already selling vehicles in places like Europe and Mexico. The company previously planned to erect a new production plant in Mexico that would serve as a North American export hub, but it put those plans on ice prior to the outcome of the recent U.S. Presidential election. Given the fact that newly elected President Donald Trump has stated that he plans to increase tariffs on vehicles imported from Mexico by as much as 200 percent, it’s unclear how BYD plans to proceed now.
Meanwhile, Ford has made it quite clear that it views Chinese EVs like the ones made by BYD as threats to both its business and potentially national security, though models like the sub-$10k Seagull are already headed to places like Europe. Interestingly, however, Ford sold one of its shuttered Brazilian plants to BYD just last year, however.
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