BYD has decided to stall its plans to enter Canada, deterred by the country’s 100% federal tariffs on EVs imported from China. But here’s how BYD will likely make the move to enter the US or Canada anyway.
The decision puts a pin on the plan after months of legwork over the summer, with BYD execs meeting with dealers across Canada to discuss a possible distribution network of the brand’s vehicle and talking with lobbyists on how to get the federal government on board, Automobile News reports.
Back in August, Prime Minister Justin Trudeau told reporters that the government would follow the US’s plan to impose stiff tariffs on EV imports from China, all while BYD was busy trying to set the deal in place. Over the summer months, a lobbyist with Toronto’s Crestview Strategy told Automotive News that they had arranged six exchanges with BYD and senior members of the government, all set on clearing the way for EV sales and BYD setting up shop in the country.
Since then, communications have halted, and would-be distributors are in a holding pattern, according to sources who spoke to Automotive News. BYD hasn’t yet commented.
BYD is already a leading EV brand in Mexico and operates in about 90 markets – but tariffs have been a roadblock to breaking into the North American market, a situation that is likely to get more complicated with recently elected Donald Trump.
BYD could still launch an EV in North America
That said, BYD could still launch in North America, even with 100% tariffs. Analysts say that the company could easily absorb the tariffs on some vehicles – to a point. And it would have to strategize carefully about which model to bring over.
The Atto-3 SUV / Source: BYD Europe
“There is the possibility that even with the 100-per-cent tariff, that they could still launch a model that could compete, but it’s a matter of which one, if it’s the right model for the market,” Lei Xing, China auto industry expert analyst told Automotive News.
The BYD Atto 3 and Seal seem likely candidates, he said, but US and Canadian consumers would likely have to pay a lot more for them (I guess BYD would be willing to absorb costs only to a point).
In France, for example, you can get an Atto 3 for about $45,000, and a Seal for $65,000. Of course, the subcompact BYD Seagull, the brand’s smallest car that sells for around $10,000 in China, would be an easier choice in terms of cost control. The brand plans to launch a European version in 2025, but the North American market isn’t as welcoming to small cars, Lei Xing said.
BYD Seagull. Source: BYD
The North American move is on hold for now, Chinese brands as ambitious as BYD won’t likely be put off by tariffs for too long – it’s just a matter of when, and with which vehicle.
“Imported vehicles cost a lot more, but these companies really want to be into this marketplace, said Sam Fiorani, vice-president of global vehicle forecasting at US-based AutoForecast Solutions, told Automotive News. “North America is the crown jewel for any global automaker. So, finding a way to get any volume sold, they’ll take the cost.”
Some other options too cited by Fiorani include building market share and brand recognition – where I am in France, BYD ads are literally everywhere. Next step, set up assembly plants somewhere in North America, or import vehicles into Canada from other countries other than China – but then again, Canada could respond accordingly with tighter restrictions, so it’s a moving target.
Also, over-the-air infrastructure for Chinese vehicles could be problematic since Canada seems likely to follow the US’s proposed rules banning Chinese hardware and software for connected vehicles in the interest of national security. So in order to work around that, companies would need a separate OTA infrastructure to process data locally, not back and forth to China.
Meanwhile BYD is seemingly very large and in charge. It’s currently ramping up production by close to 200,000 units to meet demand, and the company has hired nearly 200,000 new employees over the past three months. Photos courtesy of BYD
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Smoke billows from an explosion at the Islamic Republic of Iran Broadcasting (IRIB) building in Tehran on June 16, 2025.
AFP | Getty Images
The U.S. stock market rose and oil prices retreated amid news that Iran wants a ceasefire with Israel. As early as the first days of Israel’s strikes, Tehran reportedly asked several countries to persuade U.S. President Donald Trump to call on Israel for an immediate ceasefire, NBC Newsreported, citing a Middle East diplomat with knowledge of the situation.
When asked at a news briefing Monday about the prospect of a ceasefire, however, Israeli Prime Minister Benjamin Netanyahu indicated he was not interested in one, according to NBC News. Netanyahu said Israel is “not backing down” from eliminating Iran’s nuclear program.
Regardless of how negotiations — or the lack thereof — play out, it’s clear that countries are placing renewed emphasis on defense. The U.S. Defense Department is turning to artificial intelligence to bolster its forces, announcing on Monday a one-year contract with OpenAI “to address critical national security challenges in both warfighting and enterprise domains.”
Amid the Monday developments regarding armed conflict and defense considerations, the Trump Organization announced a mobile phone plan called Trump Mobile and a smartphone, clad in gold and emblazoned with an American flag, dubbed “T1.” Putting aside iffy ethical issues about the sitting U.S. president lending his name to consumer products, their unveiling seemed ill-timed and tone deaf.Perhaps the reception over Trump Mobile was spotty.
Safe-haven assets dip In another sign the markets are shrugging off the Israel-Iran conflict — which continued for the fourth consecutive day — both safe-haven assets and oil prices dipped Monday. At the end of the trading day stateside, spot gold prices fell 1.03%, while the dollar index dipped 0.07%. Meanwhile, U.S. crude fell 1.66% to settle at $71.77 and international benchmark Brent lost 1.35% to close at $73.23 a barrel.
‘Golden share’ in U.S. Steel Shares of U.S. Steel rallied 5.1% Monday after Trump issued an executive order on Friday that allowed the firm and Nippon Steel to finalize their merger so long as they sign a national security agreement with the U.S. government. U.S. Steel said Friday that the agreement, which both companies have signed, includes a golden share for the U.S government, which would give it veto power over many decisions.
OpenAI wins contract from Defense Department OpenAI has been awarded a $200 million one-year contract to provide the U.S. Defense Department with artificial intelligence tools, the latter announced Monday. It’s the first contract with OpenAI listed on the Department of Defense’s website. In December, OpenAI said it would collaborate with defense technology startup Anduril to deploy advanced AI systems for “national security missions.”
Trump Organization enters telecommunications The Trump Organization, a company owned by the current U.S. President, on Monday announced a mobile phone plan and a $499 smartphone set to launch in September. The company’s new foray into telecommunications mainly comprises a licensing agreement. On Friday, the president reported that he had made more than $8 million in 2024 from various licensing agreements.
[PRO] What would it take for markets to react? Equity and energy markets appeared to shake off concerns of a wider conflict in the Middle East on Monday, reversing some of the moves from late last week. Such a response to geopolitical conflict is not unusual, according to one strategist, who explained what it would take for markets to feel the effects of the hostilities.
And finally…
U.S. President Donald Trump raises a fist as he steps off of Air Force One upon arrival at Calgary International Airport, before the start of the G7 summit, in Alberta, Canada, June 15, 2025.
As leaders of the world’s largest advanced economic powers gather in Canada for this year’s Group of Seven summit, ongoing trade instability and turmoil in Ukraine and the Middle East are set to dominate talks.
With uncertainty over those major issues largely arising from the White House’s economic and foreign policy, allies are likely to ask whether Trump stands with them, or against them on major geopolitical points.
Asked if he planned to announce any trade pacts at the summit as he left the White House on Sunday, Trump said: “We have our trade deals. All we have to do is send a letter, ‘This is what you’re going to have to pay.’ But I think we’ll have a few, few new trade deals,” in comments reported by The Associated Press.
T1 Energy (NYSE: TE), formerly FREYR Battery, kicks off preparations for its new solar cell factory, set to be one of the largest in the US.
T1 Energy has chosen Yates Construction as the contractor for preconstruction services and site preparations for its planned $850 million, G2_Austin 5 GW Solar Cell Facility.
The G2_Austin site is in Milam County, Texas, in the Advanced Manufacturing and Logistix Campus at Sandow Lakes.
It’s expected to create up to 1,800 new direct US advanced manufacturing jobs. Construction is on track to kick off in mid-2025, and the facility is expected to begin producing cells by the end of 2026. There are currently far fewer solar cell manufacturing sites in the US than solar module factories, according to the SEIA.
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On December 24, FREYR announced that it had closed its acquisition of China-headquartered Trina Solar’s 5-gigawatt (GW), 1.35 million-square-foot solar panel factory in Wilmer, Texas. The company renamed the factory G1_Dallas, which employs more than 1,000 people and is now fully online.
Daniel Barcelo, T1’s chairman of the board and CEO, said, “Our facilities will manufacture solar cells and modules to invigorate our economy with abundant energy. We’re excited to work with Yates and Milam County to bring American advanced manufacturing to the heart of Texas and to unlock our most scalable energy resources.”
T1 Energy says it anticipates finalizing commercial terms with Yates Construction as General Contractor.
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The EV2 is set to arrive as Kia’s smallest and most affordable electric vehicle next year. With its official debut coming up, the electric SUV was spotted driving on public roads. The electric SUV may be small, but it looks bigger in person.
Kia’s new EV2 is an affordable, small electric SUV
Kia has yet to say precisely how big the EV2 will be, but it’s expected to be around 4,000 mm (157″), or slightly smaller than the EV3 at 4,300 mm (169.3″). That’s even more compact than the outgoing Chevy Bolt EV (163.2″).
During its EV Day event in April, Kia unveiled the Concept EV2, a preview of the entry-level EV that will sit below the EV3.
Although it’s the brand’s smallest EV, Kia promises that it will feel larger when you’re inside. The EV2 sits higher than you’d expect with a wide front end, giving it a bigger presence on the road, similar to the three-row EV9.
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We got a sneak peek at Kia’s affordable EV last month after it was spotted testing on public roads in Korea, but the latest sighting gives us a closer look at the EV2 in its production form. The new video from HealerTV reveals a few details that could look a little different from the concept.
Kia’s new entry-level EV2 spotted driving in public (Source: HealerTV)
The footage shows what appears to be different daytime running lights (DRLs). When Kia unveiled the Concept EV2 in April, it featured a unique split vertical headlight design.
The EV2 spotted driving still has the split design, but both the inner and outer lights appear to be angled more inwards. It’s not a huge difference, but given most of Kia’s new EVs look almost identical to the concepts, this could be something to keep an eye on.
Prices, specs, and more
Despite being an entry-level model, the EV2 is still equipped with advanced technology and features, including vehicle-to-load (V2L) capability, which allows it to power a campsite, home appliances, and other electronics. With OTA updates, it will only get smarter and more advanced over time.
The interior will feature Kia’s new ccNC (connected car Navigation Cockpit), which features dual 12.3″ driver cluster and touchscreen navigation screens in a panoramic display.
Like its other new EV models, it’s also expected to include a 5″ climate control display for nearly 30″ of screen space.
Kia plans to launch the EV2 next year in Europe and “other global regions.” For those in the US, sorry to disappoint, but it’s not expected to make the trip overseas. We do have the EV4, Kia’s first electric sedan, to look forward to.
Kia Concept EV2 (Source: Kia)
We will learn prices and final specs closer to launch, but given it will sit below the EV3, it will likely be cheaper than that.
The EV3 starts at £32,995 ($44,800) in the UK and €35,990 ($41,600) in Europe. Kia’s CEO, Ho-Sung Song, told Autocar in 2023 that the company aims to launch the EV2 at around £25,000 ($32,000) in the UK. With new battery technology and other advancements, it could be even more affordable when it arrives next year.