Chinese automotive manufacturer BYD has opened an electric vehicle (EV) manufacturing plant in Thailand, its first in Southeast Asia.
The $490m factory is located in Thailand’s eastern Rayong province and, according to BYD chairman Wang Chuanfu who was speaking at the opening ceremony: “has an annual capacity of 150,000 vehicles, including four major processes of vehicle and parts production. It will create about 10,000 jobs”.
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Wang said the factory will initially produce battery electric vehicles before also moving into plug-in hybrids. It will supply the Thai market as well as others in the region.
Narit Therdsteerasukdi, Secretary General of Thailand’s Board of Investment, said: “BYD is using Thailand as a production hub for export to ASEAN [the Association of Southeast Asian Nations bloc] and many other countries.”
Of activities at the plant, Liu Xueliang, BYD’s Asia Pacific general manager, added: “We will also assemble batteries and other important parts here.”
BYD officially entered Thailand in 2022 and has since established a network of 60 sales outlets. It is currently the largest supplier of BEVs to the country, where sales expanded 32% to 43,921 mostly imported vehicles in the first five months of 2024, according to industry data.
By 2030, Thailand aims to convert 30% of its annual production of 2.5 million vehicles into EVs, according to a government plan.
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