BYD said its partnership with Rever will expand from passenger cars to segments including commercial vehicles in the future.
BYD signed an agreement to buy a 20 percent stake in Thai dealer Rever Automotive to increase its bet on the Southeast Asian auto market.
The two companies signed the share purchase agreement on July 6 to jointly boost their competitiveness in the Thai auto industry, according to a statement today.
The Chinese new energy vehicle (NEV) maker made its official entry into Thailand's passenger car market on August 8, 2022, in a joint announcement with Rever in Bangkok.
On July 4, BYD opened its factory in Thailand, which saw its 8 millionth NEV roll off the assembly line that day.
There are now 115 BYD sales outlets in Thailand, said Liu Xueliang, general manager of the NEV maker's Asia-Pacific auto sales division, at a July 4 celebration ceremony.
With the commissioning of BYD's Thailand plant, its local sales network will also be further expanded, the company said today.
In the future, the two companies will expand their areas of cooperation from passenger cars to market segments including commercial vehicles, BYD said.
Models currently produced at BYD's Thailand plant include the all-electric Dolphin and Seal, as well as the Atto 3, known in China as the Yuan Plus, which are currently sold by Rever in Thailand.
The company also plans to produce plug-in hybrid electric vehicle (PHEV) models there including the Sea Lion 6, which is known as the Song Plus DM-i in China.
Rever is headed by a member of the family that owns Thailand's well-known Siam Motors Group, which was founded in 1952 and began by importing and selling Nissan vehicles.
