Detroit placed the U.S. on wheels but if Motor City wants to go electric it faces fierce global competition. Chinese electric vehicle maker BYD outsold Tesla in the fourth quarter of 2023. The foreign automaker said it produced more than 3 million new energy vehicles in 2023 compared to Tesla’s 1.8 million. The Wall Street Journal reported BYD wants to build a factory in Mexico to avoid high tariffs and gain a foothold near the United States market. If successful, BYD would likely provide a much cheaper EV than domestic-made ones costing around $65,000.
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