BYD inaugurates Thailand factory and hits 8 million NEV milestone

Chinese automaker BYD marked a significant milestone by inaugurating its new manufacturing plant in Rayong, Thailand, on July 4, and celebrating the production of its eight millionth new energy vehicle (NEV). The event was attended by notable dignitaries, including Thailand’s Minister of Industry Pimphattra Wichaikul; Han Zhiqiang, Chinese ambassador to Thailand; Narit Therdsteerasukdi, secretary general of Thailand Board of Investment; and Wang Chuanfu, chairman and president of BYD.

The new plant, completed in just 16 months, has an annual production capacity of 150,000 vehicles and includes facilities for stamping, painting, welding, final assembly, and component manufacturing. The establishment of this plant is expected to create 10,000 jobs in the region. The ceremony also saw the unveiling of the Dolphin model as the eight millionth new energy vehicle.

Wichaikul praised BYD’s contribution to the new energy vehicle sector, highlighting the company’s role in driving the development of the industry in Thailand and across the Association of Southeast Asian Nations (ASEAN). “BYD is a world-leading automobile manufacturer and a pioneer in China’s new energy vehicle industry. BYD’s investment in Thailand, along with its advanced production technology, will drive the development of the new energy vehicle industry in Thailand and across ASEAN,” she said.

Wang expressed gratitude for the support from both governments, Thai customers, and partners. He highlighted BYD’s success in the Thai market, noting that the company has been the leading seller of pure electric vehicles in Thailand for the past two years. “Currently, one in every three electric vehicles sold in Thailand is a BYD. Going forward, we aim to launch more pure electric and plug-in hybrid models in Thailand,” Wang said.

BYD has significantly expanded its global presence in recent years, achieving a 337% year-on-year increase in exports in 2023, reaching 243,000 vehicles. In the first half of this year, BYD sold 1.607 million new energy vehicles globally, a 28% year-on-year increase. Of these, over 203,000 were exported, showing a 173.8% year-on-year growth. BYD’s new energy vehicles are now present in 88 countries and regions worldwide.

Since achieving the roll-off of its one millionth new energy vehicle in May 2021, BYD has reached the impressive milestone of eight million vehicles in just over three years. The company plans to continue expanding its global market presence, leveraging its advanced technology and innovative products to meet the diverse needs of consumers worldwide.

In China, the category of new energy vehicles includes the following types of vehicles:

• Battery Electric Vehicles (BEVs): These vehicles are powered entirely by electric batteries and have no internal combustion engine. They rely solely on electricity stored in batteries for propulsion.
• Plug-in Hybrid Electric Vehicles (PHEVs): These vehicles have both an internal combustion engine and an electric battery. They can be recharged by plugging into an external power source and can run on electric power alone for short distances. The internal combustion engine is used for longer distances or when the battery is depleted.
• Fuel Cell Electric Vehicles (FCEVs): These vehicles use hydrogen fuel cells to generate electricity, which powers the electric motor. They produce only water vapor as a byproduct and are considered a clean energy vehicle option.