China’s BYD launches three EV models in Indonesia
CHINA’S BYD, the world’s biggest electric vehicle (EV) maker, unveiled three battery EV models in Indonesia on Thursday (Jan 18) as it seeks to expand its presence in South-east Asia’s biggest economy.
BYD overtook Tesla as the world’s top EV maker in the fourth quarter. The majority of the 526,000 vehicles it sold during the period were in the China market.
In 2023, the Chinese firm sold three million electric vehicles, including battery EVs and plug-in hybrids.
In the South-east Asian market, the company has been outperforming other automakers in EV sales, driven by strong sales of affordable models and partnerships with local distributors.
BYD, which has been offering electric buses and taxi fleets through local Indonesian partners, said it would start selling the Dolphin hatchback, the Atto 3 sport utility vehicle and the Seal sedan in that country.
Indonesia is seeking to accelerate EV adoption and lure investment into local battery production and EV supply chains that can take advantage of the country’s rich reserves of nickel, a key battery material.
Chief Economic Minister Airlangga Hartarto said in a video message delivered at the launch event that BYD was planning to invest US$1.3 billion in facilities with production capacity of 150,000 vehicles.
Eagle Zhao, BYD’s Indonesia president, said the company was on track to build the facilities later this year as scheduled and it would establish a sales network of up to 50 outlets across the country by the end of 2024. REUTERS
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