BYD is moving quickly, beginning with Thailand, where the company expects its first factory outside China to be in operation by the end of this year. The automaker surpassed Toyota to grab the top spot for passenger car sales in Thailand in January, despite having no sales there just one year prior, according to data from Marklines.
Once operating, the Thailand factory will likely serve the rest of Southeast Asia. EY predicts the electric car market in the region will grow exponentially to at least $80 billion a year in sales in the next decade.
BYD has established itself in Southeast Asia as the top-selling EV brand, grabbing more than one-third of the market last year after barely selling cars there previously, according to data from Counterpoint Research…Read More