BYD, Geely, and VinFast Emerge as Finalists for COMPAS Aguascalientes Plant Acquisition

has become the most coveted strategic asset for Asian capital, in an environment marked by global trade tensions.

According to information from the Reuters news agency, Chinese giants BYD and Geely, along with Vietnam’s VinFast, have solidified their positions as the three finalists in the bid to acquire this industrial complex. The final short list emerged from an initial interest from nine companies, including other significant players such as Chery and Great Wall Motor.

For Chinese manufacturers, the plant represents a critical manufacturing base at a time when U.S. tariffs have impacted exports from Mexico, leading to factory closures and layoffs. In this scenario, companies like BYD and Geely see Aguascalientes as an ideal platform not only to mitigate these tariffs but also to boost electric vehicle sales across Latin America.

Political and Administrative Uncertainty

Despite the progress of the bidders, the transaction faces diplomatic and commercial hurdles. According to the same Reuters article, the Federal Government is allegedly halting the operation to postpone it until negotiations within the framework of the USMCA (T-MEC) conclude.

Esaú Garza de Vega, head of the Secretariat of Economic Development, Science and Technology (SEDEYCT), stated the following: «We do not have this information; it is a negotiation taking place directly between the company and potential investors. We understand there are several interested parties in that plant, not just one, so we will know that information at the appropriate time, but I am aware that negotiations are progressing directly.»

The resolution of this sale will determine whether the automotive powerhouse of Aguascalientes integrates into the new wave of Asian electromobility or remains on hold due to North American commercial policy. It is worth noting that in the third quarter of 2025, the closure of the COMPAS plant in Aguascalientes was confirmed, ceasing operations on May 31, 2026.

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