BYD Set to Dominate NEV Market in Southeast Asia, Starting with Thailand - CleanTechnica

BYD is rapidly expanding its presence in the Southeast Asian new energy vehicle (NEV) market, using a strategy of partnering with prominent local automotive groups to establish distributorships and manufacturing bases across the region. Thailand serves as a key hub for this expansion, with BYD selling approximately 27,000 units there in 2023—significantly outpacing Tesla’s 4,121 units—and capturing 14% of the total market share despite a slight overall market decline. In July 2024, BYD inaugurated a manufacturing plant in Rayong, Thailand, capable of producing 150,000 vehicles annually and creating around 10,000 jobs. This plant, completed in just 16 months with strong government support, handles stamping, painting, welding, and final assembly. In other ASEAN countries, BYD faces varying challenges but continues to grow through local partnerships. Malaysia’s market is tough due to low fuel prices and strong competition from the national car Proton, partly owned by Ge