BYD has officially opened its factory in Rayong, Thailand, and celebrated the production of its 8 millionth new energy vehicle (NEV), underscoring its global expansion efforts.
NEV is a catch-all term from China’s carmakers to refer to hybrids, plug-in hybrids, battery electric vehicles and fuel cell vehicles.
The plant, completed in just 16 months, has an annual production capacity of 150,000 vehicles. It integrates stamping, painting, welding, final assembly, and component production, and is expected to create 10,000 jobs.
The 8 millionth NEV, a Dolphin electric hatchback, was unveiled during the ceremony, which was attended by notable figures, including Thailand’s Minister of Industry Pimphattra Wichaikul, Chinese ambassador Han Zhiqiang, Thailand Board of Investment Secretary-General Narit Therdsteerasukdi and BYD chairman Wang Chuanfu.
BYD handed over the 8 millionth Dolphin to Thailand’s Mae Fah Luang Foundation.
Wang confirmed plans to introduce more pure electric and plug-in hybrid models to the Thai market. Currently, one in every three EVs sold in Thailand is a BYD.
BYD’s rapid global growth is evident in its export achievements, including a 337% year-on-year increase in 2023, with 243,000 vehicles exported.
In the first half of 2024, BYD sold 1.607 million NEVs worldwide, marking a 28% year-on-year increase, including over 203,000 exports. BYD now operates in 88 countries and regions, with production bases in Thailand, Brazil, Hungary and Uzbekistan.
Since producing its 1 millionth NEV in May 2021, BYD has reached the 8 million milestone in just over three years. The company aims to expand its global presence further, leveraging cutting-edge technology and diverse offerings to meet consumer needs worldwide.
BYD’s ambitious growth is bolstered by a highly technical workforce. It is known as the automaker with the most R&D personnel in the world as it has around 1 million employees, 11 major research institutes and 110,000 engineers.
