BYD has opened its first Southeast Asian plant in Thailand, marking a significant milestone in the company’s global electric vehicle (EV) expansion strategy. The $490 million plant is located in the eastern Rayong province.

BYD’s new plant aims to deliver an annual production capacity of 150,000 units as well as set to employ around 10,000 workers. Moreover, it will produce right-hand drive (RHD) models for both domestic sales and exports to other ASEAN markets including Brunei, Indonesia, Malaysia, and Singapore.

Furthermore, the plant will produce various BYD models including the Dolphin electric hatchback, Atto 3 electric SUV, and Seal electric sedan. There will also be future plans to produce the Sealion 6 (Seal U) plug-in hybrid SUV.

Aside from BYD’s global expansion including its plans to build new production plant in Hungary, the company has established itself as a major player in Thailand’s automotive landscape. BYD had commanded a 46% share of the country’s EV market in Q1 2023 and ranked as the third-largest player in passenger vehicles overall.

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Thailand has aimed to convert 30% of its annual 2.5 million vehicle production to EVs by 2030. BYD’s investment is part of a larger trend, with Chinese EV automakers pouring over $1.44 billion into the country, attracted by government subsidies and tax incentives. As BYD continues its global expansion with Thailand next in line, these strategic moves by the company will further cement itself to the top of the EV market.

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