Published 19:30 IST, July 31st 2024
BYD seeks entry into Canadian auto market amid taxation concerns
BYD is planning to sell passenger EVs in Canada, but the company did not provide a specific timeline for its entry into the market.

BYD in Canadian market: According to a recent regulatory filing, the Chinese electric vehicle (EV) manufacturer BYD is exploring entry into the Canadian automotive market. This move comes at a time when Canadian officials are considering new taxations on vehicles imported from China.
The regulatory document, which was filed earlier this month, indicated that BYD is planning to sell passenger EVs in Canada. However, the company did not provide a specific timeline for its entry into the market. The Canadian government has been considering taxations on Chinese-made EVs, striving to align with its Western allies, including the United States and the European Union, who have also considered similar measures against what they view as heavily subsidised Chinese auto industry practices.
In June, Canadian officials announced that they were reviewing the potential imposition of taxes on Chinese electric vehicles. This decision follows a public consultation period that began on July 2, where concerns were raised about the impact of China's support for its EV sector on local investments and the transformation of Canada’s automotive industry. Ottawa has expressed worries that unchecked imports could damage intended investments in Canada’s EV sector.
While the document did not describe BYD’s specific plans or meeting schedules with Canadian government representatives, it highlighted the potential impact of proposed tariffs on the company’s entry into the Canadian market.
In related developments, BYD recently introduced the Shark, a mid-size hybrid-electric pickup truck, in Mexico. Despite the company's global expansion efforts, BYD’s regional chief has downplayed the significance of recent US tariff increases on Chinese EVs, indicating that the US market is not currently a target for the company.
As the situation evolves, BYD’s potential entry into Canada will be closely observed, particularly in light of ongoing discussions about tariffs and trade policies affecting the automotive industry.
(wth Reuters input)
Updated 19:30 IST, July 31st 2024