According to a statement released by the government of Vietnam, which quotes the chairman of the Chinese manufacturer BYD, Wang Chuanfu, BYD aims to extend its electric vehicle manufacturing and assembly activities into Vietnam.
According to the article, Wang, who is also the founder of BYD, stated that he anticipated Vietnam to establish favorable conditions for BYD to complete investment processes in a statement that was published by the government following a meeting between Wang and Vietnam’s deputy prime minister Tran Hong Ha last week. The meeting took place after Wang had met with Tran Hong Ha.
Three Southeast Asian nations competed to host BYD electric vehicle production plants.
According to a story that was published by Bloomberg in February of this year, three nations in southeast Asia were vying to be the location of an assembly factory for BYD electric vehicles. These countries were Vietnam, the Philippines, and Indonesia.
At the moment, the only industrial footprint that BYD has in Vietnam is through a facility in the northern province of Phu Tho, which is dedicated to the assembly of electrical products and parts. According to the statement released by the Vietnamese government, the Chinese company reportedly also suggested the establishment of a local supply chain.
In April 2022, it was announced that BYD will establish its first electric car production factory in Southeast Asia. In September of the previous year, the firm bought a 96-hectare parcel of land in Rayong, which is the center of the automotive industry in Thailand. A further report from Reuters in January stated that a facility that is slated to be built in Vietnam will also provide parts to the plant that is being built in Thailand.
In the meantime, in the Malaysian market, the BYD Atto 3 has seen 1,000 vehicle deliveries in Malaysia in the first 100 days since it was released in December of last year. After reaching the milestone of 100-unit customer delivery in January, it surpassed the milestone of 1,000 vehicle deliveries in Malaysia in the first 100 days.