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BYD to kick off EV production at new Thailand plant in Q3 as overseas expansion accelerates

Baua Electric

The fully electric BYD Atto 3 SUV was the top-selling electric model, with over 19,200 units delivered. The automaker solidified its commitment to the region as Thailand works toward its goal of having 30% of vehicles manufactured in the country to be electric. BYD was Thailand’s best-selling EV maker last year.

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Nearly one in five cars sold worldwide in 2023 was electric: IEA | Autocar Professional

Baua Electric

The year 2023 was the first in which China’s New Energy Vehicle (NEV) 3 industry ran without support from national subsidies for EV purchases, which have facilitated expansion of the market for more than a decade. As the market matures, the industry is entering a phase marked by increased price competition and consolidation.