Chinese automaker BYD plans to expand its electric vehicle manufacturing and assembly operations into Vietnam according to the country’s government statement citing BYD chairman Wang Chuanfu, reports Reuters.
Through a government-issued statement following a meeting between Wang and Vietnam deputy prime minister Tran Hong Ha last week, Wang, who is also founder of BYD, said that he expected Vietnam to create favourable conditions for BYD to complete investment procedures, according to the report.
In February this year, a Bloomberg report stated that three southeast Asian countries – Vietnam, the Philippines and Indonesia – were competing to host an assembly plant for BYD electric vehicles.
Currently, BYD’s manufacturing presence in Vietnam is via a factory for the assembly of electronic devices and parts in the northern province of Phu Tho. The Chinese manufacturer also proposed a forming of a local supply chain, according to the Vietnamese government statement.
News of BYD’s first Southeast Asian electric vehicle manufacturing plant emerged in April 2022, and in September last year the manufacturer purchased a 96 hectare plot of land in Rayong, the automotive hub in Thailand. In January, a separate Reuters report said that a planned Vietnam plant would also supply parts to this plant in Thailand.
Meanwhile in the Malaysian market, the BYD Atto 3 saw 1,000 vehicle deliveries in Malaysia in the first 100 days since it was launched last December, after which it reached the 100-unit customer delivery milestone in January.
The post BYD to open manufacturing and assembly facility in Vietnam, proposes forming of local supply chain appeared first on Paul Tan's Automotive News.
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