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Auto Manufacturing makes up 10% of Thailand’s GDP and contributes about 850,000 jobs, according to the International Labour Organization. Its history with carmaking dates to the 1960s, when ...
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. BYD says the new factory is expected to create 10,000 jobs. Apart from Thailand and China, BYD also has or is building factories in Brazil, Hungary and Uzbekistan.
BYD launched its first plug-in hybrid model at the end of 2008. Since then, BYD has taken off as an EV manufacturer, partly thanks to the Chinese government’s support for the industry.
The report, which lists policy recommendations to combat overcapacity and unfair trade practices, notes that BYD is building factories in Thailand and Hungary designed to be regional export hubs ...
BYD was founded by Wang Chuanfu in February 1995 as a battery manufacturing company. BYD's largest subsidiary, BYD Auto, was founded in 2003 and has grown to become the world's largest manufacturer of plug-in electric vehicles. [14] Since 2009, BYD's automotive business has contributed over 50% of its revenue.
In Thailand, BYD operates a manufacturing plant located in the Eastern Economic Corridor (EEC) special zone in Rayong. Announced in 2023 and with an annual capacity of 150,000 vehicles, construction of the facility began in March of that year. The plant officially opened in July 2024, and was expected to employ 10,000 workers.
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.
BYD is now the world's largest EV maker, selling more battery-powered cars than Tesla in the final quarter of 2023. Yet most of the sales that took BYD to the top were in China.