China’s BYD to build electric vehicle plant in Thailand

Chinese car maker BYD Auto said it would set up a facility in Thailand to start producing 150,000 passenger cars per year from 2024. The company would invest 17.9 billion baht ($490.5 million) to purchase 96 hectares of land in the Eastern Economic Corridor in Thailand’s Rayong province from Thai industrial developer WHA Group and to set up the facility. According to Liu Xueliang, general manager of BYD’s Asia-Pacific auto sales division, the company “after a thorough search and selection process” has chosen the site in Thailand due to its geographic location and “reputation as a leading cluster of industrial…

Chinese car maker BYD Auto said it would set up a facility in Thailand to start producing 150,000 passenger cars per year from 2024.

The company would invest 17.9 billion baht ($490.5 million) to purchase 96 hectares of land in the Eastern Economic Corridor in Thailand’s Rayong province from Thai industrial developer WHA Group and to set up the facility.

According to Liu Xueliang, general manager of BYD’s Asia-Pacific auto sales division, the company “after a thorough search and selection process” has chosen the site in Thailand due to its geographic location and “reputation as a leading cluster of industrial parks in the region.”

Right-hand drive model

BYD plans to sell the electric cars built at the site starting in 2024 in Thailand and wider Southeast Asia, as well as in Europe. It specified that the vehicles will be right-hand drive.

The factory in Thailand, BYD’s latest among more than 30 others in the US, Brazil and India, will produce the fully-electric Atto 3 model, Xueliang said, adding the company was also considering producing batteries and parts on location, depending on demand.

Thai government seeks to attract electric vehicle makers

The Thai government has recently put a focus on electric vehicle production and is offering incentives including tax breaks and subsidies to attract electric vehicle makers and stimulate demand, recognising an opportunity in the transformation of the auto industry.

According to WHA Group, Thailand’s finance ministry has now approved 26 electric car projects from 17 companies, which are expected to add up to a total production capacity of 830,000 electric vehicles in the mid-term.

BYD Auto is a company headquartered in Xi’an in China’s Shaanxi province and listed at the Shenzhen and Hong Kong stock exchanges. The company’s most prominent international shareholder is Warren Buffett’s investment firm Berkshire Hathaway with 19.9 per cent.