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The facility will kick off BYD’s entry into Pakistan, the fifth-most populated country in the world. Despite new tariffs on Chinese EV imports in the US and Europe, BYD is widening its lead in key auto markets like Southeast Asia and South America. According to the latest, BYD is now plotting its newest EV plant in Pakistan.
Ember’s data on Chinese solar export reveals significant growth is also emerging in new markets such as Pakistan and Saudi Arabia, as well as the Philippines, the UAE, Thailand, and Oman.
After dominating its home market, BYD and other Chinese EV makers are looking overseas to drive growth. The EV giant opened its first manufacturing plant in Thailand earlier this year, and more are planned for Hungary, Brazil, Mexico, Pakistan, and Turkey. While Ford’s Model e EV unit is on track to lose between $5 billion and $5.5
Despite slashing prices and launching more affordable EVs, BYD’s bottom line nearly doubled from the first three months of 2023 (+98%). It’s also planning to open facilities in Mexico, Hungary, Brazil, Turkey, and Pakistan. The EV leader posted revenue of RMB 176 billion ($24.7 billion) in Q4 2023. billion ($1.46
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