BYD claims 70% of EV and PHEV sales in Mexico as Canada opens the floodgates

BYD already has a strong foothold in Mexico, accounting for around 70% of electric and plug-in hybrid sales. Now, the Chinese EV giant could be looking north, as Canada opens its doors. BYD takes lead in Mexico EV market, Canada up nextIn early 2023, BYD launched its first passenger vehicles in Mexico, the Han, Tang, and Yuan Plus. According to BloombergNEF estimates, BYD’s sales in Mexico nearly doubled last year, accounting for about 70% of the EV and PHEV market. Even Tesla sold just 4,000 cars in Mexico in 2024, about a quarter of BYD’s estimated EV sales that year.