Tesla's Top Rival BYD Expanding In Cambodia - What's Going On?

BYD Co., Ltd. BYDDY is reportedly planning to construct an electric vehicle (EV) plant in Cambodia.

The Southeast Asian nation’s Prime Minister Hun Manet said he met with Liu Xueliang, general manager of BYD’s Asia-Pacific auto sales division, and shared several pictures, reported CnEV Post.

According to Hun Manet, BYD’s plant in Cambodia will have the capacity to assemble 20,000 vehicles annually for both domestic sales and international exports.

BYD made its Cambodian market debut in 2020 with the opening of its first passenger car sales center in Phnom Penh, introducing multiple new energy vehicle (NEV) models.

Also Read: GM Delays 1M EV Production Target Beyond 2025: ‘Market Isn’t Developing… We’re Going To Be Guided By The Customer,’ Says CEO Mary Barra

In August 2022, BYD launched the Atto 3 (Yuan Plus in China) in Cambodia. Additionally, BYD operates a factory in Southeast Asia.

BYD inaugurated its Thailand plant on July 4, where the company celebrated the production of its 8 millionth new energy vehicle (NEV). This facility, with an annual capacity of 150,000 vehicles, marks BYD’s first wholly owned overseas passenger car plant and its debut in Southeast Asia.

BYD intends to establish a manufacturing presence in Indonesia with a $1.3 billion investment for a plant capable of producing 150,000 vehicles annually, as announced by Indonesia’s Chief Economy Minister Airlangga Hartarto in January.

The report cited coordinating minister Luhut Panjaitan stating recently that BYD plans to hold a groundbreaking ceremony for the factory in July, aiming for commercial production to commence by early 2026.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image via Shutterstock

Read Next:

• Tesla Q2 EPS Estimate Bumped Up, Rivian’s Cold Shoulder To Union, Lucid’s 70% Sales Jump And More: Biggest EV Stories Of The Week