BYD made massive news last year as it successfully overtook Tesla as the world’s largest seller of electric cars. More recently, it courted massive excitement yet again, by competing with Tesla as the world’s largest BEV maker. It is set to outpace Tesla’s brilliant production number of 1.84 million. Following on this commitment, the company has now opened a brand new factory in Thailand. This further expands its envelope of electric car production in the territory.
It means that the Buddhist land known for its tourism and hospitality will see more electric cars on the roads. BYD already has a substantial stronghold in the country’s EV space. Last year, the prestigious EV company sold over 30,600 electric vehicles in Thailand.
BYD’s latest production facility in Thailand is noteworthy also because it is the brand’s maiden factory in the country. Prior to this development, the eminent carmaker did not have a single factory in Southeast Asia.
Thailand, akin to China, is emerging as a fast-paced market for EV car production. Hence, the presence of a luminary renowned for electric cars in this region is a big plus.
The carmaker’s latest electric vehicle plant in the region is located at Rayong. This happens to be south of Bangkok, the Thai capital. A total investment of no fewer than USD 486 million has gone into this production facility. The carmaker plans to employ around 10,000 workers in the near future.
What will be another world-class facility shall also target big numbers as far as EV production is concerned. It is reported that BYD will target to make 15,000 vehicles per year through its new production unit in Thailand. Its upcoming, affordable variant of BYD Atto 3 arriving in July, may also be one of the EVs produced.
An Encouraging Sign
Moreover, the Southeast Asia region holds strategic importance for a big EV player such as BYD for a straightforward reason. This is a territory, where the sales of electric vehicles have actually more than doubled in the first quarter of 2024. One reckons, what a massive sign of things to come!
Furthermore, on the occasion of the new factory’s opening, BYD CEO and President, Mr Wang Chuanfu had some positive insights to share:
“Thailand has a clear EV vision and is entering a new era of auto manufacturing. We will bring technology from China to Thailand.”
One notes, the technology transfer between two economies in a vastly competitive space is a win-win for everybody. Not only will this create more employment opportunities, it will further link the two prodigious economies of Asia even closer to each other than before.
On its part, the Chinese company lent further momentum to the occasion of factory opening by driving more curiosity towards its vast array of products.
BYD’s Opening Discounts
The company heightened interest towards its offerings by offering interesting discount options on its currently available products such as the Atto 3.
The carmaker’s success goes far beyond the land of its origin. In the last two years, it was BYD that successively emerged as the seller of most EVs in Australia.
But when it comes to Thailand, it will make for some interesting viewing given besides the premier Chinese carmaker several others too, have opened factories in the country.
BYD will, therefore, have to operate at its best given the likes of Great Wall Motor, Hozon New Energy Automobile and SAIC Motor are already in the competitive domain in this particular market.
