BYD Celebrates Milestone: 8 Millionth NEV Rolls Off Production Line as Thailand Plant Opens

BYD Expands in Thailand with New Plant and Milestone Achievement

BYD, the Chinese new energy vehicle (NEV) giant, marked a significant milestone today with the inauguration of its Thailand plant and the rollout of its 8 millionth NEV. BYD entered the Thai market in 2022 and has swiftly captured a 41 percent share of the local NEV market.

Dominating the Thai NEV Market

Wang Chuanfu, BYD’s chairman and president, highlighted during the celebration ceremony that BYD has been the top NEV seller in Thailand for 18 consecutive months since January 2023. This achievement underscores BYD’s strong brand recognition in the country.

A Golden Era for Thailand’s NEV Industry

Wang emphasized that an automotive market typically sees an explosion in NEV adoption once it surpasses a 10 percent market share. In Thailand, the NEV penetration rate has already exceeded 20 percent, driven primarily by Chinese brands, indicating a golden period of growth for the industry.

Strategic Investments and Expansions

In September 2022, BYD signed a land purchase agreement with WHA Industrial Development PLC, a subsidiary of WHA Group, to build an electric vehicle (EV) plant in Thailand. The groundbreaking ceremony took place on March 10, 2023.

The new plant, BYD’s first wholly-owned overseas passenger car facility, boasts an annual capacity of 150,000 vehicles. It currently produces the all-electric Dolphin and Seal models, as well as the Atto 3 (known as Yuan Plus in China). BYD plans to expand production to include plug-in hybrid electric vehicles (PHEVs) like the Sea Lion 6 (Song Plus DM-i in China).

Celebrating the 8 Millionth NEV

The 8 millionth vehicle, a BYD Dolphin, was ceremoniously delivered to its owner, Dispanadda Diskul, CEO of Mae Fah Luang Foundation, by Wang Chuanfu. In Thailand, the Dolphin is available in two versions, starting at 699,999 baht ($19,120) and 859,999 baht.

Expanding Sales Network

BYD currently operates 115 sales outlets across Thailand, according to Liu Xueliang, general manager of BYD’s Asia Pacific auto sales division.

BYD’s Journey in the NEV Market

BYD entered the automotive industry in 2003 and sold its first NEV in 2008. The company has since expanded its portfolio to dozens of models in China. On May 19, 2021, BYD celebrated its one millionth NEV, becoming the first Chinese automaker to reach this milestone. BYD’s rapid growth continued with the 5 millionth NEV rolling off the line on August 9, 2023, and the 6 millionth on November 24, 2023.

($1 = THB 36.61)