BYD to Launch EV Production in Thailand by Q3 2024

BYD has announced that its electric vehicle (EV) plant in Thailand will commence production in the third quarter of 2024. The plan was unveiled at the ongoing Bangkok International Motor Show, where BYD is showcasing its full range of brands, including BYD, Yangwang, Fang Cheng Bao, and Denza.

Construction of BYD's EV plant in Thailand began in March last year and is nearing completion. This investment is expected to bring advanced manufacturing technology, drive industrial development, and create numerous local job opportunities, according to a press release by BYD.

At the Bangkok auto show, BYD introduced the 2024 Atto 3 long-range version, known as Yuan Plus in China, and commenced pre-sales for the Denza D9 MPV. The company also unveiled several new models, including the right-hand drive Song Max EV, BYD Sealion (known as Sea Lion 07 in China), BYD Seal U (known as Song Plus EV in China), Yangwang U9, and Fang Cheng Bao's Bao 5, marking their debut appearance in Thailand.

BYD's decision to establish a production base in Thailand reflects the growing prominence of Chinese EV brands in the Thai market. In 2023, Chinese brands dominated the local EV market, accounting for 70-80% of the market share, with BYD leading the pack. The popularity of Chinese EV brands underscores their appeal to Thai consumers.

Moreover, BYD's successful market entry in Thailand last year with models like the Sealion, which offers three configurations at competitive prices, further solidifies the company's position in the local EV market. The completion of its overseas production base is expected to enhance BYD's market advantage and strengthen its presence in Thailand's burgeoning EV industry.