Chinese electric vehicle maker BYD has opened its first EV factory in Southeast Asia in Thailand. The factory will have an initial production capacity of 150,000 vehicles per year. Thailand aims to convert 30% of its annual vehicle production of over 2 million vehicles to EVs by 2030 as part of its climate goals. BYD is the largest EV maker in the world and controls around 46% of Thailand's growing EV market in the first quarter of 2024. BYD sees Thailand as a production hub for its expansion plans in Southeast Asia and plans to assemble battery packs and other key EV components at the new factory.
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00:00It's Benzinga and here's what's on the block.
00:02Chinese electric vehicle maker BYD has opened its first EV factory in Southeast Asia in Thailand.
00:08The factory will have an initial production capacity of 150,000 vehicles per year.
00:13Thailand aims to convert 30% of its annual vehicle production of over 2 million vehicles
00:18to EVs by 2030 as part of its climate goals. BYD is the largest EV maker in the world and
00:24controls around 46% of Thailand's growing EV market in the first quarter of 2024.
00:30BYD sees Thailand as a production hub for its expansion plans in Southeast Asia
00:35and plans to assemble battery packs and other key EV components to its...
00:39For all things money, visit Benzinga.com