BYD and NETA Announce Construction of EV Factory in Thailand

While the penetration rate of new energy vehicles in China will no doubt continue to grow in 2023, domestic manufacturers are accelerating their exploration of the Thai market. On March 10, BYD and NETA announced the construction of their factories in Thailand. Both sides said that the factory aims to produce cars for Thailand and ASEAN countries and other regions.

BYD’s Thai factory is located in the WHA Industrial Park in Rayong, an eastern Thai province, for the purpose of an electric vehicle production project worth 17.9 billion baht ($491 million). The factory covers an area of about 96 hectares, with an estimated annual output of 150,000 vehicles, which is expected to be officially put into production in 2024. It is worth noting that BYD delivered the 10,000th ATTO 3 at the same time as the groundbreaking ceremony of the new factory.

In August 2022, BYD announced its entry…