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Last year, Thailand registered 76,739 BEVs, according to government data, 6.5 times the number in 2022. Though the pace of EV adoption in Thailand slowed this year, as in many other parts of the ...
BYD, which stands for “Build Your Dreams,” sold 3 million vehicles last year and its exports more than tripled to 243,000. In the first half of this year, the company sold 1.6 million EVs. It sold 30,650 EVs in Thailand last year and plans for its new factory to make the Dolphin, Atto 3, Seal and Sealion 6 EV models.
It was exacerbated by BYD's focus on production capacity over quality. BYD responded by adjusting its annual production target from 800,000 to 600,000 vehicles, but fell short, reaching only 517,000 vehicles that year. In the subsequent three years, BYD shifted its attention to resolving concerns related to quality, dealership channels, and ...
BYD ended production of purely internal combustion engined cars in March 2022. BYD's automotive business constitutes the majority of BYD's revenue. In 2023, BYD reported a revenue of around CN¥483.4 billion from automotive and related products, a year-on-year increase of 48.9% and accounted for 80.27% of BYD's total revenue. [57]
The Atto 3 was released in Thailand in October 2022 with two variants: Standard Range and Extended Range. In one month after its introduction, BYD received 10,000 orders for the model. [60] The 2024 model year Atto 3 was introduced in February and March 2024.
In Asia, the company is eyeing a $1.3 billion investment to set up an electric vehicle factory in Indonesia, and is also expected to start production in Thailand this year.
The company is investing in production facilities in Hungary and Thailand, ... eventually have a production capacity of 150,000 vehicles. BYD's ... units sold in Indonesia last year.
PTT and Foxconn signed a contract in September 2021 to produce electric vehicles in Thailand. In December 2021, Energy Absolute opened the largest electric vehicle battery factory by production (1 gigawatt-hour per year) in ASEAN, in Chachoengsao. The factory will supply some the company's buses with batteries. [13] [14] [15]