China’s BYD Actively Working to Enter Canadian Market: Report
With the Canadian government’s 30 days of consultation about possible tariffs on Chinese-made electric vehicles coming to an end this week, it’s been discovered that BYD (Build Your Dreams) is actively preparing an entry into Canada.
As Automotive News reports, lobbyists representing the Chinese EV maker registered with the federal and Ontario governments earlier this month to “advise on matters related to the expected market entry of BYD into Canada for the sale of passenger electric vehicles, and the establishment of a new business, and the application of tariffs on EVs.”
- Also: China’s BYD Shark Plug-in Hybrid Pickup Launches in Mexico, Leaves Out Canada
- Also: Apple Car is Dead, and China’s BYD Kills Rumours of U.S. Launch
To be clear, this has nothing to do with the Toronto Transit Commission’s recent purchase of 10 zero-emission BYD buses to help electrify its fleet.
BYD has yet to make official statements about the prospect of entering the Canadian market, so everything about its business model is up in the air including production and distribution, not to mention the way to deal with possible tariffs.
The leading automaker from China has already established a presence down in Mexico, where it plans to build a factory to assemble its all-new Shark plug-in hybrid pickup (pictured below). It is largely responsible for the U.S. deciding in May to nearly quadruple tariffs on cheap-priced, Chinese-made EVs, from 27.5 percent to 102.5 percent, for fear of unfair competition.
Back in February, BYD executive vice president Stella Li clearly said in an interview with Yahoo Finance that the company had no intention of entering the U.S. market. However, by selling products in Mexico and possibly Canada, too, it would literally sandwich Uncle Sam’s land.
BYD overtook Tesla in the fourth quarter of 2023 to become the leading EV seller in the world, but its reign was short-lived as Elon Musk’s company regained that title this year. The former boasts a comprehensive lineup with EV models covering all price points, from the super-cheap Dolphin to the immensely luxurious and sporty Yangwang U9.
