China has now crossed a massive benchmark in the electric-car race: battery-powered vehicles are now cheaper than their gas counterparts. In the U.S., by contrast, EVs still face a steep premium; roughly $14,000 on average, according to new data from JATO dynamics, an automotive data analytics firm. Dan Sperling, founding director of the UC Davis Institute of Transportation Studies, told Fortune he thought the $14,000 figure was overestimated - but conceded that there was a strong, real gap.
BYD is halting plans to build a major factory in Mexico due to concerns about US trade policies. Geopolitical issues have a big impact on the automotive industry. Now everybody is rethinking their strategy in other countries.
Labour prosecutors in Brazil have launched a lawsuit against BYD and contractors for illegally trafficking workers who endured conditions likened to slavery on a plant construction site.