Reported about 1 year ago
BYD has opened a new factory in Thailand, located in the industrial area of Rayong, southeast of Bangkok. With an annual production capacity of up to 150,000 vehicles, the initial focus will be on pure electric cars before expanding to plug-in hybrid vehicles. The Thai government offers significant tax incentives in hopes of having electric cars account for 30% of the country's total automobile production by 2030. This move is part of BYD's global expansion strategy, having recently surpassed Tesla in electric car sales. Additionally, the article discusses the concerns in Europe regarding China's overcapacity in electric car manufacturing, leading to proposed temporary high tariffs on Chinese manufacturers. BYD's new factory in Thailand is part of the company's significant investment in the region, taking advantage of the growing Southeast Asian electric car market.
Source: YAHOO