Chinese electric carmaker BYD denies pause on Mexico plant plans

MEXICO CITY (Reuters) -China’s electric automaker BYD (SZ:002594) said on Tuesday that it has not postponed “any decision” regarding its planned factory in Mexico, denying a report from earlier in the day.

In a news story, Bloomberg reported that BYD had tapped the brakes on scouting locations for the plant and that the company would not announce its investment plan until after U.S. elections in November.

“BYD hasn’t postponed any decision about a Mexico plant,” BYD Americas head Stella Li said in a statement.

She described Mexico as a “very relevant” market for the company, explaining the plant would produce cars to be sold locally, not in the United States or for export elsewhere.