BYD is the latest Chinese automaker to announce a car factory for Thailand.
It plans to start operations here in 2024, with an annual output of 150,000 electric vehicles for Thailand, neighboring Southeast Asian countries and other regions such as Europe.
Reuters Report the factory will produce electricity Atto 3 SUV car.
The company also officially launched in Thailand this year, and is also expanding into markets like Brazil, Europe and Japan.
The 17.9 billion baht (AU$722.82 million) facility, which is being developed with Thailand’s WHA Group, will be located on a 237-acre site in the country’s eastern Rayong province.
It has been approved by the Investment Council of Thailand. Thailand wants annual local production of electric vehicles to reach 700,000 vehicles by 2030, about 30% of the country’s total car production.
To that end, they have reduced taxes and subsidies to electric vehicle manufacturers.
Thailand is the largest auto market and largest automaker in Southeast Asia, and companies like Ford, Isuzu, Mitsubishi and Toyota all make vehicles there.
BYD partnered with SAIC Motor, owner of the MG and LDV brands, and Great Wall Motor to establish a manufacturing presence in Thailand.
The latter acquired the Rayong factory from General Motors, which used to make Chevrolet/Holden Colorado and TrailBlazer there.
Although none of these companies have exported Thai-made vehicles to Australia yet, MG 5 sedan is expected to be the first Thai-origin SAIC Motor product sold in Australia.
BYD this month start delivery of Atto 3 in Australia, and has been busy setting up network of sales and service centers nationwide with Eagers Automotive.
It will expand its model range with the small Dolphin hatchback and the mid-size Seal sedan, for Deliveries will begin in 2023.
