According to media reports, BYD announced that it will acquire a 20% stake in Rever Automotive, the official distributor of Thailand, after opening its first manufacturing plant in the Southeast Asian market. The move is part of a joint investment agreement between the two companies, the person in charge said. He also added that the joint venture will increase their presence in the electric vehicle industry.
As the economic center of Southeast Asia and a major automobile manufacturing country, Thailand has huge potential for the automotive market, especially in the field of electric vehicles. In recent years, with the improvement of environmental awareness and the government's support for new energy vehicle policies, Thailand's electric vehicle market has ushered in unprecedented development opportunities. BYD's acquisition of Rever Automotive's stake is based on the huge potential of the Thai market and Rever Automotive's deep foundation in the region.
As one of the leading car dealers in Thailand, Rever Automotive has an extensive sales network and excellent after-sales service system. Through the partnership with Rever Automotive, BYD will be able to better understand the needs and preferences of Thai consumers and provide them with products and services that are closer to the market. At the same time, with Rever Automotive's brand influence and market channels, BYD will further consolidate its leading position in Thailand's electric vehicle market and accelerate the adoption of electric vehicles in the region.
Picture: BYD opens a processing plant in Thailand (Source: BusinessTimes)
It is worth mentioning that BYD has invested in the construction of an electric vehicle factory with an annual production capacity of up to 150,000 units in Rayong, Thailand. The plant will focus on producing electric vehicles suitable for the right-hand drive market to meet the needs of Thailand and neighboring countries. The acquisition of Rever Automotive's stake will provide BYD's plant in Thailand with more stable sales channels and after-sales service support. Through the seamless connection between production capacity and the market, BYD will be able to better meet the demand of consumers for electric vehicles in Thailand and Southeast Asia, and promote the rapid development of the electric vehicle market.
BYD's acquisition of shares in Thai dealers is an important step in its globalization strategy. As one of the world's leading electric vehicle manufacturers, BYD has been committed to promoting the popularization and application of electric vehicles around the world. By strengthening cooperation with dealers in various countries, expanding overseas markets, and enhancing the international influence of the brand, BYD is gradually building a global electric vehicle sales and service network.
In the future, with the growing global demand for electric vehicles and the continuous progress of technology, BYD will continue to increase investment and R&D efforts in the field of electric vehicles. At the same time, by strengthening close cooperation with dealers and partners in various countries, BYD will continue to enhance its competitiveness and influence in the global market, and provide global consumers with better electric vehicle products and services.
The Thai government is actively promoting the development of new energy vehicles, and has implemented a number of incentives, including financial subsidies and tax breaks, to accelerate the adoption of electric vehicles. Thailand's "30·30" policy goal is to have electric vehicles account for more than 30% of the total domestic auto market by 2030. BYD's entry and investment is in line with the Thai government's vision, and it is expected to occupy an important position in the Thai electric vehicle market in the future.
