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Stella Li, executive vice-president of BYD, said the Shenzhen-based firm—which makes fully electric and plug-in hybrid vehicles—is looking for a potential manufacturing facility in Canada, but is unlikely to team up with others. (Bloomberg)
Talking point: When it removed its 100 per cent tariffs from an initial 49,000 Chinese-made EVs per year, the federal government said the move would “catalyze considerable new Chinese joint-venture investment in Canada.” Industry Minister Mélanie Joly said Ottawa was hoping a Chinese EV-maker would partner with auto parts companies such as Magna, Linamar or Martinrea to produce a car in Canada for global export. Li suggested BYD has something else in mind. “I don’t think a [joint venture] will work,” she told Bloomberg. She also said BYD is open to acquiring a global automaker, but did not name a target. “We will ensure that companies that sell vehicles in Canada are strongly incentivized to produce here,” Joly’s spokesperson Gabrielle Landry said Friday. Meanwhile, BYD will launch its five-minute “flash-charging” EV in the European and British markets this year to compete with Porsche and BMW.
Editor’s note: This briefing has been updated with comment from the industry minister’s spokesperson.
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