BYD Eyes Canadian Plant and Potential Acquisition of Legacy Automaker

Li Ke, Executive Vice President of BYD, recently stated that the company is actively studying the feasibility of building a factory in Canada and remains open to acquiring an established global automaker. She emphasized that if BYD proceeds with establishing a plant, it would operate independently rather than through a joint venture. Although the Canadian government encourages Chinese companies to invest via joint ventures, BYD prefers full control. The company has not yet made a final decision, she added. Li also noted that as traditional automakers in Europe, the U.S., and Japan face pressure from simultaneously managing both internal combustion engine vehicles and electric vehicles, BYD is considering potential acquisition targets to strengthen its global competitiveness. Additionally, BYD is accelerating its overseas expansion, advancing projects in Hungary and Turkey, and aiming to achieve annual overseas sales of 1.3 million vehicles by 2026. Facing declining domestic sales, the company hopes its new battery technologies and ultra-fast charging architecture will boost market performance. BYD is also exploring entry into top-tier motorsport series such as Formula 1.