BYD, the Chinese automotive company that specializes in designing and manufacturing electric vehicles, has opened an electric vehicle factory in Thailand, its first in Southeast Asia.
According to reports, the facility is worth $490 million USD and will be able to produce 150,000 vehicles annually. It will also assemble batteries and other important parts, and employ around 10,000 workers.
The report further mentions that BYD is currently the largest player in Thailand’s EV market and will use it as a production hub to export to Southeast Asian nations and other countries. Thailand aims to convert 30% of its annual production of 2.5 million vehicles into electric vehicles by 2030.
