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BYD (01211) opened an electric vehicle factory in Thailand today, marking the automaker’s first factory in Southeast Asia.
The plant was announced two years ago with a scale of US$490 million (approximately HK$3.822 billion) and an annual production capacity of 150,000 vehicles, including hybrid vehicles.
BYD Chairman Wang Chuanfu said at the opening ceremony that Thailand has a clear vision for electric vehicles and is entering a new era of automobile manufacturing. BYD Asia Pacific Automobile Sales Division General Manager Liu Xueliang said the company will also assemble batteries and other important components in Thailand.
Narit Therdsteerasukdi, secretary-general of Thailand’s Board of Investment, said BYD is using Thailand as a production hub for exports to ASEAN and many other countries.
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