RAYONG: China’s BYD opened an electric vehicle plant in Thailand on Thursday, the auto maker’s first factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player.
“Thailand has a clear EV vision and is entering a new era of auto manufacturing,” BYD CEO and President Wang Chuanfu said at the opening ceremony.
BYD’s plant is part of a wave of investment worth over $1.44 billion from Chinese EV makers who are setting up factories in Thailand, helped by government subsidies and tax incentives.
By 2030, Thailand aims to convert 30% of its annual…
