The Philippines, Vietnam and Indonesia are competing to host an electric-vehicle assembly plant for BYD Co., the world’s second-largest maker of EVs, according to a top Philippine trade and investment official.
A spokesperson for Shenzhen-based BYD said the company doesn’t have “any relevant information to disclose.” SEA nations are racing to attract investments in EVs as global carmakers pivot away from the combustion engine, a transition that China has been dominating. Great Wall Motor Co. has already set up a production line in Thailand, while nickel-rich Indonesia has drawn interest from both BYD and rival Tesla Inc.
“We’re not a low-cost destination, but we are a destination for companies who are looking for solutions for their Net Zero carbon commitments,” he said.