The recent increase in tariffs on Chinese-made EVs in many big markets has led BYD and other Chinese companies to build factories outside of China.

In July, BYD agreed to build a $1 billion factory in Turkey that will produce up to 150,000 vehicles a year and create around 5,000 jobs by the end of 2026. BYD also opened its first Southeast Asian factory in Thailand last month, which will produce 150,000 vehicles a year and create 10,000 jobs.

At the end of last year, BYD announced it would build a factory in Hungary, its first in Europe, which will create thousands of jobs. The company is also planning to build a factory in Mexico.