Etiqueta: toyota

China's BYD acquires 20% stake in Thai dealer Rever Automotive

Chinese electric vehicle (EV) giant BYD has officially launched its first manufacturing facility in Southeast Asia. The state-of-the-art plant, located in Thailand, marks a pivotal moment in the company's international expansion strategy and further cements its position as a dominant force in the region's burgeoning EV market.

05 Jul 2024 - Even though Tesla has again managed to remain ahead of BYD in the global battery-powered EV (BEV) production and sales race, analysts say it's only a matter of time before the Chinese car giant moves into the lead.

Thailand is a regional auto assembly and export hub. Read more at straitstimes.com.

China's BYD saw its 8 millionth new energy vehicle rolled off its assembly line at its new plant in Thailand on Thursday.

BYD opened an electric vehicle factory in Rayong on Thailand's eastern seaboard on Thursday, as China's grip on the local car sector ramps up

BYD Launches EV Plant in Thailand, Bolstering Presence in SEA

In May, it was reported that BYD plans to build an automotive assembly plant in Indonesia’s West Java, with groundbreaking scheduled for July.

Electric Vehicle automakers are witnessing turbulent times as price wars cripple profits. To offset losses, companies are looking to expand to regional markets of Southeast Asia. BYD becomes the latest EV company to open an EV factory in Thailand, marking its first expansion in Southeast Asia. Earlier, South Korea's Hyundai Motor Group and LG Energy Solution inaugurated Indonesia's first battery cell plant for EVs with an annual capacity of 10 Gigawatt hours (GWh) of battery cells.

We expect BYD to significantly expand its market share in the foreseeable future. Read more to see our analysis of BYDDF stock and why it is rated as a Sell.