BYD hopes to sell 10,000 cars in Mexico in 2023 and 20,000 to 30,000 in 2024.

(Image credit: BYD)

BYD will launch its cars in Mexico next year with a goal of selling up to 30,000 units by 2024, according to a November 29 Reuters report.

Next year, BYD will sell all-electric versions of its Tang SUV and Han sedan through seven dealers in Mexico, the report said, citing Zou Zhou, the company's head in Mexico.

BYD hopes to sell 10,000 vehicles in Mexico in 2023 and reach 20,000 to 30,000 in 2024, Zou said, adding that the company's long-term goal is to reach about 10 percent of the total market share.

Regarding the starting price of BYD vehicles in Mexico, Zou gave no details but emphasized the company's affordability. "We are the brand for everybody," Zou said.

For reference, BYD launched three battery electric vehicles (BEVs) in the European market on September 28 -- the Atto 3, Han, and Tang -- for delivery to Norway, Sweden, Denmark, the Netherlands, Belgium, Luxembourg and Germany.

The BYD Atto 3 has a pre-sale price of €38,000 ($36,300). The pre-sale price for both the BYD Han and Tang is 72,000 euros.

Compared with Europe, Mexico's economy is not as developed, and Reuters cited data from the country's statistics agency that few Mexicans earn more than $10,000 a year.

Zou added that BYD aims to sell cars through 15 licensed dealers in Mexico by the end of 2023, and increase to 40 by 2024.

The cars will also be sold by the Mexican department store chain Liverpool, BYD said.

Mexico, a major auto production center, hopes to make electric vehicles more affordable by cutting sales taxes and import duties, and Zou said the moves mark a positive step, according to the Reuters report.

This is BYD's latest move into the Americas.

Earlier this month, BYD launched two SUVs in Brazil -- the hybrid Song and the all-electric Yuan -- both of which will go on sale there this month, both priced at 269,990 Brazilian reais ($50,540).

Both models will be imported until operations begin at BYD's new plant in the northeastern state of Bahia.

BYD has previously launched models in Brazil, including the Tang EV, Han EV and D1.