Leading Chinese electrical car (EV) maker BYD held a revolutionary event on Friday (10 Mar) for its very first vehicle plant in Thailand, marking the most recent relocation by Chinese car manufacturers to broaden their footprint in Southeast Asia.
The brand-new factory, situated in the Eastern Economic Passage (EEC) unique zone in Rayong province, is anticipated to act as a center for the production and circulation of electrical lorries (EVs) in Thailand, surrounding ASEAN nations and other areas.
As a significant gamer in the worldwide EV market, BYD’s cumulative sales of brand-new energy lorries went beyond 1.86 million systems in 2022, representing a year-on-year boost of 208.6%, according to the business.
Signing up with SAIC Motor’s MG and Great Wall Motor, BYD ends up being the most recent Chinese vehicle brand name to develop production operations in Thailand, a market that has actually long been controlled by Japanese brand names.
In 2015, BYD brought its most popular design, the ATTO3, to Thailand. Liu Xueliang, basic supervisor of BYD Asia-Pacific Automobile Sales Department, explained the sales scene as “flourishing” with individuals lining up over night to acquire the vehicle. The sales target of 10,000 systems was attained in simply 42 days.
On the day of the groundbreaking event, BYD likewise held a shipment event for the 9,999 th and 10,000 th ATTO 3 cars and trucks.
The plant is arranged to begin production in 2024, with a yearly capability of 150,000 brand-new energy lorries.
BYD’s financial investment in Thailand is likewise in line with the Thai federal government’s objective of having 30% of lorries produced in the nation be EVs by 2030.
Wang Liping, minister-counselor for financial and industrial affairs of the Chinese Embassy in Thailand, kept in mind that BYD’s choice to make Thailand its production base in the Asia-Pacific area lines up with Thailand’s Bio-Circular-Green (BCG) financial design.
Thai authorities, consisting of Thailand Board of Financial Investment Secretary General Narit Therdsteerasukdi and Rayong Province Deputy Guv Suphot Torartharn, warmly invited BYD’s entry into Thailand. They stated they think that BYD’s existence in the Thai market will revitalize the nation’s EV market.