On September 8, BYD’s Thailand division and local industrial developer WHA signed a purchase agreement for 96 hectares of land, which will be the site of its first wholly-owned overseas passenger car factory in Thailand.
As the largest auto market in ASEAN and the auto manufacturing center of Southeast Asia, Thailand has unique advantages. In recent years, under the incentive of various policies, such as the development of charging infrastructure, the construction of a smart power grid, and tax reduction for new energy vehicles, the Thai new energy vehicle market has developed rapidly.
On August 8 this year, BYD, together with local partner RÊVER, held a brand press conference in Bangkok to announce its official entry into the Thai passenger car market, and will work with local partners and dealers to provide outstanding products and quality services for consumers and promote the development of Thailand’s new energy vehicle industry.
In recent years, the global sales of new energy vehicles continue to rise, and the market continues to expand. With leading technologies such as blade batteries, e-platform 3.0 and the DM-i super hybrid system, BYD is actively exploring overseas markets and accelerating the release of production capacity. Its total sales volume in August was about 175,000 units, up 155.23% year on year.
With the landing of the firm’s first overseas passenger car factory, BYD will give full play to its own advantages, combined with the features of Thailand’s local auto industry to promote the popularization of new energy vehicles in the country.
BYD’s Thailand plant, which will use the most advanced right-hand drive technology, is expected to start operation in 2024 with an annual capacity of about 150,000 vehicles, which will be released into the local Thai market and other ASEAN countries.