BYD Plant

The industrial park, which is adjacent to the Xiaomo Port, has already put into production the first phase of components and the second phase of vehicles.

BYD officially entered the Thai market in 2022 and now has a 41 percent share of the local NEV market.

BYD just saw its 7 millionth NEV roll off the line on March 25.

BYD plans to increase the number of its dealer stores in Brazil to 250 by the end of 2024.

BYD plans to hold a groundbreaking ceremony for a factory in Indonesia this July, a senior local official said.

The cost of building a Mexican plant could be around $600 million, similar to what BYD paid for its Brazilian EV plant, Bloomberg said, citing a person familiar with the matter.

BYD's Brazilian production base complex will start production in late 2024 to early 2025, with an expected annual capacity of 150,000 vehicles per year in the first phase.

BYD's plan is to build the facility for the Mexican market, not the export market, a company executive said.

BYD is considering setting up an EV plant in Mexico as it seeks to establish an export hub to the US, Nikkei reported.

BYD plans to have the Hungarian plant, which will produce passenger car models for sale in Europe, up and running within three years.