BYD, Geely, and Chery Preparing to Enter Canadian Market

BYD, Geely, and Chery are making preliminary preparations to enter the Canadian market. These efforts include hiring staff, scouting locations for dealership outlets, and registering trademarks. BYD, in particular, engaged an automotive retail consulting firm in Markham, Ontario, in late March to help identify up to 20 suitable sites for dealerships, while also conducting its own site evaluations. These moves are linked to Canada’s recent adjustment of import tariffs on Chinese-made vehicles. Under the new policy, up to 49,000 Chinese-made vehicles per year will be subject to a tariff rate of 6.1%, significantly lower than the previous rate of 100%. The first tranche of 24,500 quota slots was approved on March 1, and the annual quota is set to increase to 70,000 by 2030.