BYD, Xpeng, Geely invest billions in ASEAN expansion
Frozen out by tariffs in Europe and the US, Chinese electric vehicle makers are poised to penetrate further into Southeast Asia, where the market value for cleaner cars is approaching $100 billion. BYD, Xpeng and Geely are pumping billions of dollars into Indonesia, Thailand and Malaysia, aiming to seize a greater share of their fast-growing markets for sustainable vehicles.