Based on a report by Reuters, BYD accounted for greater than 1 / 4 of electrical automobiles (EVs) bought in Southeast Asia. Citing knowledge from Counterpoint Analysis, 26% of all EVs bought within the area had been from BYD, with the Atto 3 being an essential mannequin to this achievement.

The information additionally revealed Thailand to be BYD’s largest export nation because it accounted for twenty-four% of the Chinese language EV maker’s international gross sales within the second quarter of 2023 from April to June. EVs made up 6.4% of all passenger automobile gross sales in Southeast Asia within the second quarter, up from 3.8% within the earlier quarter from January to March.

Reuters additionally identified that together with enticing pricing, BYD’s success is predicated on distribution partnerships with massive, native conglomerates, which have allowed it to extend attain, check client preferences and meet complicated authorities rules within the area. It identified BYD’s regional distributors, which embrace Sime Darby in Malaysia and Singapore, Bakrie & Brothers in Indonesia, Ayala Corp within the Philippines and Rever Automotive in Thailand.

Chee-Kiang Lim, managing director for China at auto gross sales consultancy City Science, stated Southeast Asia is a area the place Chinese language automotive manufacturers wouldn’t have a longtime monitor report. “If consumers are uncertain or have any considerations, partnering with established gamers like Sime Darby, Bakrie & Brothers, or Ayala Corp will give them the peace of thoughts, particularly for aftersales help,” he stated.

BYD has already stated it’ll put up 17.9 billion baht (round RM2.3 billion) to arrange a new manufacturing facility in Rayong, Thailand, which is predicted to roll out 150,000 vehicles yearly from 2024 for home and export markets. The corporate additionally lately launched the Seal in Thailand and Singapore, which can rival the Tesla Mannequin 3.

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