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

BYD's Thai plant has an annual production capacity of 150,000 vehicles, including plug-in hybrids3. The facility, worth $490 million, was built in just 16 months and will also assemble batteries and other important parts3.

Thailand aims to convert 30% of its annual vehicle production to EVs by 2030, according to a government plan6. This goal is part of the country's efforts to become a regional hub for EV manufacturing, building on its existing status as a leader in auto production in Southeast Asia.