Asia Tech Wire (Sep 4) -- Chinese electric car maker BYD (1211.HK) has denied that it is delaying plans to build a plant in Mexico due to the U.S. election.

Citing people familiar with the matter, Bloomberg previously reported that BYD would wait for the results of the U.S. presidential election before resuming plans to locate a plant in Mexico, hoping to avoid impacts of a policy shift.

But soon Stella Li, BYD's executive vice president and president of BYD Americas, denied the report.

Li said in a statement, "We continue working to build a factory with the highest technological standards for the Mexican market, not for the United States market, nor for the export market."

"For BYD, the Mexican market is very relevant," she emphasized.