NEV maker BYD has announced plans to begin vehicle production at its Thailand plant in the third quarter of 2024. The announcement coincided with the automaker’s participation in the ongoing 45th Bangkok International Motor Show, which is being held from March 27 – April 7, 2024.
During its announcement, BYD highlighted that it is focused on the Thai auto market. The company’s Thailand investment is expected to bring advanced manufacturing technology, industrial development, and a significant number of jobs in the country, as noted in a CNEV Post report.
BYD showcased its entire brand portfolio — including BYD, Yangwang, Fang Cheng Bao, and Denza — at the 45th Bangkok International Motor Show. This was the first time that all of BYD’s brands were brought together at an automotive show outside of China.
Among the vehicles that BYD showcased at the 45th Bangkok International Motor Show were the 2024 Atto 3 long-range (known as the Yuan Plus in China), the Song Max EV, the BYD Sealion (known as the Sea Lion 07 in China), BYD Seal U (known as the Song Plus EV in China), the Yangwang U9, and the Bao 5. The company also started pre-sales of the pre-sales for the Denza D9, an MPV.
BYD’s Thai plant held its groundbreaking ceremony in March 2023. The facility is constructed on land acquired from WHA Industrial Development PLC in September 2022. Once complete, the Thai EV factory is expected to have an annual production capacity of 150,000 vehicles.
BYD is not just establishing its EV production facilities in Thailand. The company is also constructing car factories in Hungary and Brazil. Vehicle production has also started at BYD’s plant in Uzbekistan earlier this year.
During a recent investors conference, BYD Chairman and President Wang Chuanfu informed investors that the company expects deliveries to hit 3.6 million units this year, which is about 20% more compared to last year’s 3.02 million units. The BYD Chairman also noted that BYD expects to see vehicle exports more than doubling to 500,000 units this 2024.
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