China’s top electric-vehicle maker BYD will not announce a major plant investment in Mexico until at least after the US election, according to people familiar with the matter, as shifting American policy forces global businesses into wait-and-see mode.
BYD was scouting three locations for a car production facility in Mexico but has stopped actively looking for now, several of the people said, asking not to be identified discussing information that is private.
The postponement is largely because BYD would prefer to wait and see the outcome of the race between former US president Donald Trump and vice-president Kamala Harris in early November, the people said. They added that BYD’s paused factory plans may still be revived or could change, and no final decision has been made.
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