Chinese electric-vehicle maker BYD is exploring the possibility of building a wholly owned manufacturing facility in Canada and remains open to acquiring an established global automaker, according to an interview with executive vice president Stella Li.
Li said the Shenzhen-based company is studying the Canadian market for a potential production plant that BYD would own and operate. She noted that a joint-venture model would not align with the company’s strategy, despite the Canadian government’s preference for partnerships with domestic firms. In January, Canada agreed to exempt up to 49,000 Chinese-built EVs per year from a previously proposed 100% tariff; these units will instead face a 6.1% most-favored-nation levy.
In the same interview, Li confirmed that BYD is evaluating opportunities to acquire a legacy automaker, though no specific targets or negotiations are currently underway. Industry observers point to similar past transactions in which Chinese companies have purchased stakes in established brands. Any acquisition would be assessed for its strategic fit and potential benefits to BYD’s global expansion.
On the production front, BYD is accelerating output at its first European passenger-vehicle hub in Hungary and is considering a second project in Turkey. Li also mentioned that BYD is assessing entry into high-profile motorsport events, including Formula One, as part of its technology-driven branding efforts, but emphasized that no final decision has been made.
Despite a year-on-year decline, BYD reported deliveries of 190,190 new energy vehicles in February, a 41.1% drop marking six consecutive months of lower volumes. Overseas shipments, however, have become a relative bright spot: exports reached 100,600 vehicles in February, surpassing domestic sales for the first time. BYD has set a target of 1.3 million overseas vehicle sales by 2026, representing roughly 24% growth.
These initiatives underscore BYD’s strategy of diversifying production, strengthening its presence in key markets, and pursuing strategic acquisitions while navigating shifting trade policies and competitive dynamics.
Source: CNEV Post
