According to a report by Automotive News China, China’s largest EV manufacturer, BYD Co., on 10-March, broke ground for a new factory in Thailand. The new factory is set to go online in 2024 and has a 150,000-unit annual capacity.
Also on the same day, Hozon New Energy Vehicle Co. also broke ground for a new factory in Thailand. Also set to go online in 2024, Hozon’s new plant will have an initial annual capacity of 20,000 vehicles. One of the brands under Hozon is Neta, which has Malaysia in its sights.
Similar to Great Wall Motors and its Rayong plant, BYD and Hozon’s new plants in Thailand will be their right-hand drive production hub, exporting these Thai-assembled vehicles within Thailand and the ASEAN region.
Changan Automobile Co. also announced plans for a new factory in Southeast Asia, though the state-owned company did not reveal where the plant will be located. That said, Changan’s officials mentioned that the new factory will go online before 2025.