Yahoo FinanceChina's BYD opens EV factory in Thailand, first in Southeast Asia

Jul 04 2024 01:38 PM IST

China's BYD opened its first electric vehicle plant in Thailand on Thursday. Facility, announced two years ago, is worth $490 million and will have a production capacity of 150,000 vehicles per year. The factory is located in an industrial estate in Thailand's eastern Rayong province.

RAYONG, Thailand (Reuters) - China's BYD opened its first electric vehicle plant in Thailand on Thursday, the auto maker's first in Southeast Asia.
"BYD is using Thailand as a production hub for export to ASEAN and many other countries," Narit Therdsteerasukdi, Secretary General of Thailand's Board of Investment said at the opening ceremony, referring to the 10-nation Southeast Asian bloc.
The facility, announced two years ago, is worth $490 million and will have a production capacity of 150,000 vehicles per year.
The factory is located in an industrial estate in Thailand's eastern Rayong province.
(Reporting by Chayut Setboonsarng, Editing by Devjyot Ghoshal)
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