The Chinese electric vehicle manufacturer responsible for selling one-third of all EVs in Thailand has inaugurated a new facility in Rayong just 18 months after breaking ground. The company, which recently reached a production milestone of one million units in merely 101 days due to global demand, is set to introduce a range of all-electric and plug-in hybrid models.
On July 4, Chinese electric automaker BYD celebrated the opening of its new plant in Rayong, Thailand, coinciding with the production of its eight-millionth new energy vehicle. The facility, completed in just 16 months, boasts an annual production capacity of 150,000 vehicles and is expected to create 10,000 jobs. It features integrated processes, including stamping, painting, welding, final assembly, and component manufacturing. The landmark eighth million vehicle is the Dolphin model.
Thailand’s Minister of Industry, Ms. Pimphattra Wichaikul, lauded BYD as a frontrunner in China’s new energy vehicle sector and a top global car manufacturer. She highlighted that BYD’s investment and cutting-edge production technology are pivotal for the growth of the new energy vehicle industry in Thailand and the broader ASEAN region.
Wang Chuanfu, Chairman and President of BYD, noted the company’s dominance in Thailand’s electric vehicle market, where it has led for 18 months over the past two years, capturing a third of the market share. BYD aims to continue this trend by launching additional all-electric and plug-in hybrid models in Thailand.
BYD has markedly increased its international footprint, with a 337% boost in exports year-on-year in 2023, totalling 243,000 vehicles. In the first half of this year, BYD’s global sales of new energy vehicles rose by 28% year-on-year to 1.607 million, reinforcing its industry leadership. The company’s vehicles now reach 88 countries and regions, with manufacturing facilities in Thailand, Brazil, Hungary, and Uzbekistan.
Since May 2021, when BYD produced its millionth new energy vehicle, the company has swiftly reached the eight million mark in just over three years. The pace of production has quickened significantly; the company produced its seven-millionth vehicle in March 2024, just 101 days after the previous milestone.
BYD continues to enhance its global market presence through technological innovation and product advancements. With the operation of additional overseas factories, BYD is set to further bolster its global production capabilities.
In June, BYD sold 341,658 new energy vehicles, up 35% year-over-year, and inaugurated the BYD Uzbekistan Factory, further solidifying its position in the global market.
