From Nasdaq:

In a bid to challenge traditional Japanese auto giants, BYD’s success in Thailand was fueled by a strategic dealer network and uniform pricing strategy, outshining competitors like Tesla and Great Wall Motor. Rever’s rapid progress sheds light on BYD’s expansion outside of China.

BYD, leading the Thai EV market with over 46% share, holds the third-largest share in the nation’s passenger car market at over 9%. Thailand’s auto market recorded sales of approximately 407,000 vehicles in 2023, with a significant contribution from BYD’s $490 million EV production facility.

Rever’s scale-oriented approach resulted in rapid growth as they only partnered with dealers committing to a minimum of five outlets, allowing for quick expansion when demand surged. With around 100 showrooms currently, Rever plans to triple the number within two years for further market penetration.

Rever’s collaboration with BYD was a carefully planned move, with a focus on the company’s vast production capacity and innovation. The marketing strategy involved traditional advertising methods, such as billboards, in high-traffic locations, which proved effective in increasing brand visibility even in rural areas of Thailand.

Government subsidies and a diverse range of EV options position BYD favorably against Japanese counterparts in gaining market share. While short-term growth is predicted, long-term competition is expected to intensify as more established automakers introduce electric vehicles to the market.



Read more at Nasdaq: Siblings help China’s BYD grab early lead in Thai EV market