Chinese EV maker BYD to build Vietnam component plant: Sources

HANOI: Chinese electric vehicle maker BYD Auto plans to build a plant in Vietnam to produce car parts, three people with knowledge of the plan told Reuters, in a move that would reduce the company's reliance on China and deepen its supply chain in Southeast Asia as part of a global expansion.

Backed by Warren Buffett's Berkshire Hathaway, BYD makes both plug-in hybrids and pure electric vehicles. Like Tesla, BYD controls much of its supply chain, including battery production, a strategy that sets it apart from established automakers. Talks are underway to select a site for the Vietnam plant, said the sources, who declined to be named because the discussions are confidential. One said construction was planned to start by mid-year.It was not immediately clear what components BYD would build in Vietnam and whether it would include batteries or battery packs.

BYD is looking to lease 80 hectares of industrial land, more than doubling its footprint in Vietnam, where its electronic unit rents 60 hectares, a second source said.

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