In conjunction with the manufacturing of its eight millionth new energy car, Chinese electric vehicle manufacturer BYD commemorated the opening of its new facility in Rayong, Thailand, on July 4. After only 16 months of construction, the factory can produce 150,000 cars annually and is projected to generate 10,000 employment. It has integrated procedures for component manufacture, final assembly, painting, stamping, and welding. The landmark eighth million vehicle is the Dolphin model.
Ms. Pimphattra Wichaikul, Thailand’s Minister of Industry, praised BYD for being a leading global automaker and a pioneer in China’s new energy vehicle market. She emphasized that the development of the new energy vehicle market in Thailand and the larger ASEAN area depends heavily on BYD’s investment and state-of-the-art production technology.
The company’s supremacy in Thailand’s electric vehicle industry, where it has led for 18 months over the previous two years and captured a third of the market share, was highlighted by BYD Chairman and President Wang Chuanfu. By introducing more plug-in hybrid and all-electric vehicles in Thailand, BYD hopes to maintain this trend.
BYD has significantly expanded its global reach, with 243,000 vehicles exported in 2023 representing a 337% year-over-year increase. BYD’s global sales of new energy cars increased by 28% year over year to 1.607 million in the first half of this year, solidifying its position as the market leader. With production sites in Thailand, Brazil, Hungary, and Uzbekistan, the company currently exports its automobiles to 88 nations and regions.
BYD has created eight million new energy vehicles in less than three years, having built its millionth vehicle in May 2021. The firm built its seven millionth vehicle in March 2024, just 101 days after reaching the previous milestone, demonstrating how quickly production has accelerated.
BYD keeps expanding its product line and technological innovation to further strengthen its position in the worldwide market. BYD is poised to enhance its worldwide production capacities by launching more foreign operations.
June saw BYD open the BYD Uzbekistan Factory and sell 341,658 new energy cars, up 35% from the previous year. These achievements further cemented BYD’s place in the international market.
