BYD opens EV factory in Thailand, aims to produce 150,000 vehicles annually for ASEAN countries.

From Fusion Media Limited: 2024-07-04 01:41:12

Chinese automaker BYD has opened an electric vehicle plant in Thailand, marking its first in Southeast Asia. With over $1.44 billion in Chinese EV investment, Thailand aims to have 30% of its annual 2.5 million vehicle production as EVs by 2030. BYD plans to use Thailand as a production hub for export to ASEAN countries. The $490 million facility in Rayong will employ 10,000 workers and produce 150,000 vehicles annually, including plug-in hybrids. BYD currently holds a 46% share of Thailand’s EV segment and is the third-largest player in passenger cars. Other EV competitors in Thailand include Great Wall Motor and Tesla.



Read more at Fusion Media Limited: China’s BYD opens EV factory in Thailand, first in Southeast Asia By Reuters