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The Silicon Review Asia

China's BYD to start EV production in Thailand by 2024

China's BYD to start EV production in Thailand by 2024

China's biggest EV manufacturer aims to sell 10,000 units in Thailand

Chinese electric vehicle maker BYD is considering setting up a facility in Thailand to start the production of 150,000 passenger cars per year. BYD plans to partner with the Thai industrial developer WHA Group and has signed a purchase agreement for 96 hectares (237 acres) of land in the eastern province of Rayong for the plant. The project was approved by Thailand's Board of Investment last month. BYD, China's biggest EV manufacturer, aims to sell 10,000 units in Thailand and export them to Southeast Asian and European countries. Thailand's Board of Investment approved the 17.9 billion baht ($491.49 million) project to produce EVs last month. China's biggest EV manufacturer aims to sell 10,000 units in Thailand and export to Southeast Asian and European countries.

The factory in Thailand, its latest among 30 others in India, Brazil, and the United States will produce the fully electric Atto 3. The General Manager of Asia-Pacific Sales, Liu Xueliang, told reporters that the company was also considering batteries and parts depending on the demand. Southeast Asia's second-largest economy is a regional auto production and export base for the world's leading carmakers, including Toyota and Honda, and has recently offered incentives, including tax breaks and subsidies, to attract EV makers and stimulate demand.

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