China’s BYD signs land deal to build electric vehicle plant in Thailand
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BYD, the leading electric vehicle (EV) manufacturer and distributor in China, has completed the purchase of a 96-hectare plot of land in Rayong province for a car assembly plant - the company’s first in South-east Asia - with production expected to begin in 2024.
“This is an important step towards Thailand becoming an EV production hub for the region, if not the world,” said Jareeporn Jarukornsakul, the chief executive officer of WHA Industrial Development Company, the owner of the WHA Rayong 36 Industrial Estate which sold the land to BYD. WHA is the largest developer of industrial estates in Thailand.
BYD’s new factory will initially have a capacity to assemble 150,000 right-hand-drive EVs every year, targeting Thailand’s domestic market as well as export markets in Southeast Asia and Europe.
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