China delays the approval of BYD's Mexican work for fears of Tech Lecks for us

China delays the approval for BYD (1211) to build a work in Mexico because the technology developed by the electric vehicle manufacturer could expire to the USA, the Financial Times reported on Wednesday.

Beijing is intended to prioritize projects in countries that take part in the belt and street initiative.

In the meantime, the Mexican government has an enemy attitude towards Chinese companies that have made the construction of the work for BYD even more difficult, said sources.

This comes when geopolitical uncertainties rise.

The United States has accused Mexico of being a “back door” for Chinese goods that enter the North American market and threatens to do with high tariffs on Mexico.

Although Mexico denied the allegations, it later reacted to the US print and announced tariffs to Chinese textiles and, in addition to the anti-dumping examinations in China, stained steel and aluminum products.

BYD announced plans to build a work in Mexico in 2023, and also intends to produce cars in Brazil, Hungary and Indonesia.

Staff Reporter