BYD (SHE:002594, HKG:1211) has paused plans to build a plant in Mexico due to geopolitical uncertainty and US trade tensions under Donald Trump's policies, Bloomberg News reported Thursday.

The electric vehicle maker's executive vice president, Stella Li, said the company seeks clarity before investing, according to the report.

BYD is shifting focus to Brazil, where it just opened its first factory outside Asia, Bloomberg wrote. The plant in Bahia will assemble partially built vehicles from China, starting commercial production within two months.

Once operational, the Camaçari factory will have an annual production capacity of 150,000 vehicles, with plans to ramp up to 300,000 around two years later.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)