BYD opens Thai factory, slashes local EV prices
In early July, Chinese EV maker BYD opened its first Southeast Asian factory in Thailand’s Rayong province, a $486 million facility, and cut prices for local buyers, discounting the Atto 3 SUV by up to 340,000 Thai baht ($9,234). This reflects fierce competition amid economic slowdown and rising car loan rejections in Thailand. The factory, with a 150,000 annual capacity, will mainly export to Southeast Asia and Europe. Thai EV sales rose 32% between January and May, while overall vehicle sales dropped. BYD, holding 40% of Thailand’s EV market last year, benefits from low trade barriers and government incentives.