Shulou(Shulou.com)11/24 Report--

CTOnews.com BYD said on Tuesday it would sell cars in Mexico next year, with an executive targeting sales of as many as 30,000 vehicles by 2024, Reuters reported.

Next year, BYD will start selling all-electric versions of the Tang SUV and Han sedan through seven dealers in Mexico, said Zou Zhou, head of the company's Mexico operations, adding that the world's largest electric carmaker hopes to sell 10,000 vehicles in Mexico by 2023 and 20,000 to 30,000 by 2024, adding that the company's long-term goal is to reach about 10 percent of the total market share.

According to data from the Mexican Automobile Industry Association, only 4.5% of cars sold in the first eight months of this year were hybrid vehicles, or about 31,000 out of a total of nearly 693,000 cars sold.

Although BYD declined to disclose how much its vehicles cost in Mexico, Zou Zhou stressed that "we are a brand that everyone can afford." Few Mexicans earn more than $10,000 a year, according to the country's statistics agency.

Zou Zhou also said the company aims to sell cars through 15 franchisees in Mexico by the end of 2023 and 40 by 2024. BYD said Mexican department store chain Liverpool would also sell the cars.

CTOnews.com has learned that Mexico, a major auto production hub, is looking to make electric vehicles cheaper by cutting sales taxes and import tariffs. In recent months, Mexican officials have said the country is on track to meet its goal of converting 50 percent of car production to electric vehicles by 2030.

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