BYD, the world's best-selling electric car brand, has introduced its Dolphin Mini model in Mexico, which is now the cheapest electric vehicle available in the national market. The company's announcement on February 29 highlights its rapid popularity since entering the Mexican market last year, as it provides quality vehicles at low prices. This launch is part of a trend where numerous Asian brands are competing against well-established contenders in an inflated market that saw the discontinuation of new cars priced below 200,000 pesos post-COVID pandemic.

The global semiconductor shortage starting in 2022 has further intensified the price hikes across most vehicles, prompting some manufacturers to cease production of their more affordable models. Nonetheless, BYD has emerged as a leading contender in the automotive sector, particularly in the electric vehicle space, which has become increasingly important in light of global trends toward sustainability and reduced carbon emissions.

In just two years, BYD has become the top-selling electric vehicle brand worldwide, surpassing even Tesla in sales figures. In the last quarter of the previous year alone, BYD sold 526,409 vehicles, compared to 484,507 sold by Tesla. This showcases BYD's effective strategy in catering to consumers’ need for lower-cost electric options and highlights the shifting dynamics in the automotive market as electric vehicles gain prominence.