Chinese electric vehicle (EV) giant BYD has announced the acquisition of a 20% stake in its local distributor, Rever Automotive, in Thailand. This move underscores BYD’s commitment to expanding its footprint in its largest market outside of China, where it already holds a leading position in the EV sector.
This week, the Shenzhen-based automaker celebrated opening its first factory in Southeast Asia, which is located in Thailand. The $490 million facility is set to become a significant production hub with an annual manufacturing capacity of 150,000 vehicles and the creation of 10,000 jobs. This factory represents a crucial step in BYD’s strategy to bolster its presence in the regional market.
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