BYD's Thailand Factory Completed, Opening a New Chapter in Globalization, 8 Millionth New Energy Vehicle "Dolphin" Rolls Off the Line
BYD's Thailand Factory Commences Production, Marking 8 Millionth New Energy Vehicle MilestoneBYD's Thailand factory, the company's first electric vehicle plant in Southeast Asia, has officially commenced production. The inauguration ceremony, attended by BYD Chairman and President Wang Chuanfu, celebrated this significant milestone.
BYD's new energy vehicle production milestones:
1 million: May 2021
5 million: August 2023
6 million: November 2023
7 million: March 2024
8 million: July 2024
Wang Chuanfu stated that BYD officially entered the Thai market in 2022, and its market share in Thailand's new energy vehicle market has reached an astonishing 41%. One out of every three vehicles sold is a BYD. From January 2023 to the present, BYD has been the champion of new energy vehicle sales in Thailand for 18 consecutive months, enjoying high recognition and market share in the country.
Wang Chuanfu believes that breaking through a 10% market share for new energy vehicles is a critical point. Once this point is exceeded, it will usher in a leap-forward development. He stated that Thailand's new energy industry will enter a golden development period.He also revealed that it only took 16 months from the commencement of production to the completion of the Thailand factory (the fastest speed). Subsequently, BYD will introduce plug-in hybrid models in Thailand, allowing Chinese automobiles to lead the world.
Narit Therdsteerasukdi, Secretary-General of the Thailand Board of Investment, stated that "BYD is using Thailand as a production center for exporting to ASEAN and many other countries." He also mentioned that Thailand provides local cash subsidies and tax reductions, hoping that BYD will continue to invest and establish technology R&D centers and regional headquarters.
Pimchanok Vonkorpon, Minister of Industry of Thailand, expressed: "BYD is a top global automaker, and we are very grateful that BYD has chosen Thailand as BYD's first overseas base in Southeast Asia. Thailand has a complete automotive industry system that can provide high-quality conditions for BYD's Thailand factory."
Han Zhiqiang, Chinese Ambassador to the Kingdom of Thailand, was also present at the event and delivered a speech: "I wish BYD prosperity in its overseas business development." He stated: "Next year marks the 50th anniversary of the establishment of diplomatic relations between China and Thailand. I hope the two sides will work together to build a China-Thailand community with a shared future."
BYD's Thailand factory is the brand's first wholly-owned overseas passenger vehicle plant. On September 8, 2022, it signed an agreement with WHA Wihan Group Public Company Limited and is located in an industrial park in Rayong Province, eastern Thailand. The factory is valued at 35 billion Thai Baht (approximately 6.948 billion Chinese Yuan) and has an annual production capacity of 150,000 vehicles.
With an annual capacity of around 150,000 units, the factory includes the four major processes of vehicle manufacturing and parts production. It is expected to create approximately 10,000 job opportunities and aims to meet the demand for new energy vehicles in the Thai domestic market, while also serving as a hub for surrounding ASEAN countries and other regions.
The main models currently produced at the BYD Thailand factory include the BYD Dolphin/Seal/Yuan PLUS (ATTO 3). The factory will also begin production of the Song PLUS DM-i (Sealion 6) in the future. Notably, BYD is now producing battery cells at the Thailand factory, providing a significant boost to the local economy and industry.