Asia Tech Wire (Aug 22) -- Chinese electric car maker BYD is evaluating incentives proposed by state governments for its planned Mexican plant.

BYD has narrowed down its list of finalists to build a plant in Mexico to three states and is evaluating a range of incentives proposed by those states, the company's general manager for Mexico, Jorge Vallejo, said on Wednesday.

Vallejo said the company is reviewing the latest proposals from candidate states, which offer "many benefits," including financial, land, regulatory and favorable pricing incentives.

A plant needs to have not just space, but logistics, all the development, city infrastructure, water, natural gas, and everything else an auto plant needs, he said.

"There are many elements, even logistical, that we are analyzing together with them," he said, adding that the goal remains to identify a site for the plant by the end of the year.