China's BYD opens EV plant in Thailand

BANGKOK — China's electric vehicle giant BYD opened a factory in Thailand on Thursday, continuing its international expansion despite a market slowdown and hours before the European Union was due to impose swinging tariffs on Chinese electric vehicle firms.The plant in Rayong, an industrial area southeast of Bangkok, will be able to build up to 150,000 vehicles a year, according to the company, which dominates its domestic market.

The BYD logo is seen on the BYD stand at the Beijing Auto Show in Beijing on May 3, 2024. BYD opened a new plant in Thailand on July 4, 2040, which is the first in Southeast Asia as the EV giant is eyeing international expansion. AFP PHOTO'BYD Thailand plant has an annual capacity of 150,000 vehicles, including the four major processes of vehicle and parts production, and will create about 10,000 jobs,' Wang said at an opening ceremony.

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