BYD has just opened its first-ever EV factory in Southeast Asia. Located in Rayong, Thailand, the new factory is part of a wave of investments from the company that amounts to USD 1.44 billion as reported by Reuters.
Already present in Malaysia and Singapore, BYD’s new EV factory in Thailand may soon be producing cars for our market too. BYD’s EV lineup in Southeast Asia currently consists of the entry-level Dolphin hatchback, the Atto 3 SUV, and the Seal sedan.
Commenting on the opening of the new EV factory, BYD CEO and President, Wang Chuanfu said, “Thailand has a clear EV vision and is entering a new era of auto manufacturing. We will bring technology from China to Thailand.”
This EV factory isn’t the country’s first as automakers like MG and GWM have also set up bases in Thailand previously. BYD’s EV factory is reportedly worth USD 490 million and will have an annual production capacity of 150,000 units. It will also employ around 10,000 workers.
Thailand’s Board of Investment Secretary General, Narit Therdsteerasukdi said, “BYD is using Thailand as a production hub for export to ASEAN and many other countries.” Thus we could expect to see Thailand-assembled BYD EVs in Malaysia in the near future.
Thailand is BYD’s largest overseas market, and BYD cars commanded a 46% share of the country’s EV segment in the first quarter of the year. It is also the third-largest player in passenger cars, according to research from Counterpoint.
In Malaysia, BYD made its debut back in late 2022. Its first model launched was the BYD Atto 3 SUV in two variants. After the Atto 3, BYD launched the Dolphin hatchback which was then followed by the Seal.
