From Nasdaq:

In Thailand, BYD’s sole distributor plans to expand to 300 dealerships within two years. The Chinese automaker holds a 40% market share in Thailand and aims to triple their outlets. This will make BYD the dominant player in Thailand’s fast-growing EV market. Thailand accounts for 20% of BYD’s international sales.

BYD sold over 81,000 electric vehicles in Thailand in the third quarter. The Thai government’s policies and subsidies are helping to spur the growth of the EV market. Thailand aims to convert 30% of its 2.5 million annual vehicle production to EVs by 2030. Chinese auto companies plan to invest more than $1.44 billion in Thailand.

BYD is the leading automaker in Southeast Asia’s EV market, outperforming competitors. They have unveiled three battery EV models in Indonesia, where BYD plans to invest $1.3 billion in an assembly plant. In Thailand, BYD is expanding into commercial fleets and offering three EV models. The company aims to capture 40% of new vehicles entering Thailand’s taxi market.

Rever aims to attack Thailand’s commercial market this year and plans to offer the BYD T3 van for limited distance deliveries. They also plan to expand BYD’s offerings beyond passenger cars and enter the MPV and SUV segments. The Thai commercial market is a major focus for expansion for the company.



Read more: EXCLUSIVE-BYD’s Thai distributor to triple EV dealerships, expand commercial offerings