Until now, the car and battery manufacturer BYD has made the majority of its sales and sales in its home country of China. The company’s vehicles are also available for purchase in Europe and South America. Now BYD seems to want to open new markets. It was recently announced that an electric vehicle manufacturer is planning a new factory in Thailand where left-hand drive vehicles will be manufactured.
BYD is investing a total of 20 billion baht (550 million euros) in Thailand. Of this, 17.3 billion baht will go to the new factory and the rest to the sales network. The factory plans to manufacture cars for the domestic market as well as export, including the UK and Australia. The local partner will be a group of Thai investors who will own 15 percent of the shares in the factory and 85 percent of the sales network.
The first model to be manufactured in Thailand is the BYD Dolphin, which will be launched at the end of this year. BYD is joining Thailand’s electric mobility initiative, offering Dolphin buyers a $5,000 rebate and excise duty exemption. After profit, a pure electric car will cost 19,278 euros.
Investment in a new plant is good. In Australia in particular, electronic capabilities are still in their infancy and a large share of the market can be achieved with affordable models. The section is attractive and for 25 euros investors can take paper cheaply. On the other hand, a break above the 200-day line at EUR 28.42 would represent an important technical signal.
Conflict of Interest Notice:
The author has direct positions in the following financial instruments mentioned in the publication or related entities that may benefit from the price promotion resulting from the publication: BYD