BYD to build first EV plant in Thailand

MANILA: Chinese electric vehicle manufacturer BYD is establishing a new facility in Thailand that will be producing 150,000 units per year starting 2024.

In a joint statement with Thai industrial developer WHA Group, BYD announced that the 17.9 million-baht facility will be covering 96 hectares of land in the eastern province of Rayong. The project was approved by Thailand’s Board of Investment last August.

BYD targets to deliver 10,000 electric vehicle units in Thailand and export to Southeast Asian and European markets.

BYD’s factory in Thailand will manufacture the fully electric Atto 3. According to BYD Asia-Pacific Sales General Manager Liu Xueliang, BYD is also planning to produce batteries and parts depending on demand.

The Thai government targets to produce 700,000 electric vehicle units by 2030, or 30% of overall vehicle production.

Thailand, the second largest economy in Southeast Asia serves as a regional hub for the production and export of automobiles,  and has recently provided incentives including tax exemptions and subsidies to entice electric vehicle manufacturers and boost demand.

In an interview with Reuters, WHA Group Vice Chairman David Nardone said that Chinese car and consumer goods companies are more interested in investing in Thailand as a result of rising expenses and travel restrictions in China.

“Supply chain, energy and labor costs have gone up... manufacturers want to meet their suppliers,” Nardone stated, also noting that WHA Group had raised its annual land sales projection by 55% to 224 hectares.

Photo from BYD

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