- BYD opens its first Southeast Asian EV factory in Thailand.
- The plant is part of a $1.44 billion Chinese investment wave.
- BYD plans further expansion in Indonesia and Europe.
BYD’s Thai-riffic adventure begins
China-based electric vehicle maker BYD has opened its first factory in Southeast Asia, located in Thailand.
The opening ceremony, held on Thursday, marked a significant milestone in BYD’s expansion plans outside China. CEO and President Wang Chuanfu emphasized the importance of Thailand’s clear EV vision and its potential to enter a new era of auto manufacturing.
BYD’s plant is part of a wave of investment worth more than $1.44 billion from Chinese EV makers setting up factories in Thailand.
The country’s government subsidies and tax incentives have attracted these companies, aiming to capitalize on Thailand’s position as a regional auto assembly and export hub.
By 2030, Thailand aims to convert 30 percent of its annual production of 2.5 million vehicles into EVs.
Indonesia, here we come!
BYD is utilizing Thailand as a production hub for export to ASEAN and many other countries, according to Narit Therdsteerasukdi, secretary-general of Thailand’s Board of Investment.
The Chinese EV maker’s expansion plans extend beyond Southeast Asia, building its first European production base in Hungary.
In May, it was reported that BYD plans to build an automotive assembly plant in Indonesia’s West Java, scheduled to start operation in 2026.
The company has already introduced its electric cars — BYD Seal, BYD Atto 3, and BYD Dolphin — to the Indonesian market in January and is selling cars in Singapore, Malaysia, and Thailand.
BYD’s assertive expansion into Southeast Asia coincides with escalating competition and dwindling profits for automakers in China, prompting Chinese tech giants like Huawei and Xiaomi to also introduce EV models.
